Handelsbanken Fonder AB Increases Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Handelsbanken Fonder AB grew its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,100 shares of the biopharmaceutical company’s stock after purchasing an additional 800 shares during the period. Handelsbanken Fonder AB’s holdings in Intra-Cellular Therapies were worth $2,263,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ITCI. Raymond James & Associates raised its holdings in shares of Intra-Cellular Therapies by 2.8% in the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock valued at $11,623,000 after purchasing an additional 4,325 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Intra-Cellular Therapies by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 670 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intra-Cellular Therapies by 185.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock valued at $645,000 after purchasing an additional 5,725 shares during the last quarter. abrdn plc raised its holdings in shares of Intra-Cellular Therapies by 7.5% in the third quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock valued at $18,363,000 after purchasing an additional 17,612 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Intra-Cellular Therapies by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,323 shares of the biopharmaceutical company’s stock valued at $1,487,000 after purchasing an additional 7,920 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.0 %

Shares of NASDAQ:ITCI opened at $128.57 on Tuesday. The firm has a market capitalization of $13.67 billion, a PE ratio of -147.78 and a beta of 0.72. Intra-Cellular Therapies, Inc. has a twelve month low of $63.30 and a twelve month high of $128.77. The company has a 50-day moving average price of $111.14 and a two-hundred day moving average price of $90.22.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ITCI. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Finally, StockNews.com began coverage on shares of Intra-Cellular Therapies in a research report on Monday. They set a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Company 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.