PFG Investments LLC Purchases 11,000 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

PFG Investments LLC raised its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 392.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,800 shares of the biopharmaceutical company's stock after acquiring an additional 11,000 shares during the period. PFG Investments LLC's holdings in Intra-Cellular Therapies were worth $955,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ITCI. Avoro Capital Advisors LLC bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth approximately $161,543,000. Norges Bank bought a new stake in shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $85,744,000. Avidity Partners Management LP bought a new stake in shares of Intra-Cellular Therapies in the third quarter valued at approximately $41,729,000. Polar Capital Holdings Plc boosted its stake in shares of Intra-Cellular Therapies by 150.0% in the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company's stock valued at $52,090,000 after buying an additional 600,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company's stock valued at $651,334,000 after buying an additional 554,577 shares during the period. Institutional investors own 92.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ITCI. Bank of America boosted their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. Needham & Company LLC boosted their price target on Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, April 22nd. Robert W. Baird boosted their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an "outperform" rating in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, TD Cowen upped their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.17.

Intra-Cellular Therapies Stock Up 1.6 %

Shares of NASDAQ:ITCI traded up $1.13 during trading on Friday, hitting $73.26. 594,803 shares of the company were exchanged, compared to its average volume of 1,352,361. The business's 50 day moving average is $69.33 and its 200-day moving average is $64.93. The company has a market capitalization of $7.09 billion, a P/E ratio of -50.18 and a beta of 1.02. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company's revenue for the quarter was up 50.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.45) earnings per share. As a group, sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 40,712 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total value of $2,707,348.00. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $69,845,548.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 40,712 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the sale, the chief executive officer now owns 1,050,309 shares of the company's stock, valued at $69,845,548.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Halstead sold 7,907 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the sale, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock worth $11,364,950 over the last three months. Company insiders own 3.40% of the company's stock.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.

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