Principal Financial Group Inc. Purchases 44,564 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Principal Financial Group Inc. lifted its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,566 shares of the biopharmaceutical company's stock after purchasing an additional 44,564 shares during the period. Principal Financial Group Inc. owned about 0.48% of Intra-Cellular Therapies worth $32,986,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Intra-Cellular Therapies by 0.5% in the third quarter. Vanguard Group Inc. now owns 8,539,725 shares of the biopharmaceutical company's stock valued at $444,834,000 after acquiring an additional 43,689 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Intra-Cellular Therapies by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company's stock valued at $107,503,000 after acquiring an additional 86,388 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Intra-Cellular Therapies by 6.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company's stock valued at $94,593,000 after acquiring an additional 114,370 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in Intra-Cellular Therapies by 150.0% during the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company's stock worth $52,090,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Intra-Cellular Therapies by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 993,813 shares of the biopharmaceutical company's stock worth $71,177,000 after purchasing an additional 18,899 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Trading Down 2.3 %

NASDAQ:ITCI traded down $1.53 during midday trading on Friday, hitting $65.00. 783,425 shares of the stock were exchanged, compared to its average volume of 918,682. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of -56.03 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89. The business has a 50-day moving average price of $68.75 and a two-hundred day moving average price of $66.59.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to analysts' expectations of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm's revenue for the quarter was up 52.0% on a year-over-year basis. During the same period last year, the firm earned ($0.46) EPS. Sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company's stock, valued at $2,723,986.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Joel S. Marcus sold 26,328 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company's stock, valued at approximately $2,723,986.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 20,565 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $68,490,649.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,487 shares of company stock worth $11,364,950. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ITCI. Royal Bank of Canada reissued an "outperform" rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Mizuho boosted their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Canaccord Genuity Group upped their price objective on Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, April 23rd. Needham & Company LLC restated a "buy" rating and set a $90.00 price objective on shares of Intra-Cellular Therapies in a research note on Tuesday, May 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $120.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.17.

Intra-Cellular Therapies Profile

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.