Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is Perceptive Advisors LLC’s 9th Largest Position

Perceptive Advisors LLC raised its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 62.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,716,407 shares of the biopharmaceutical company’s stock after purchasing an additional 661,052 shares during the period. Intra-Cellular Therapies comprises 2.8% of Perceptive Advisors LLC’s portfolio, making the stock its 9th largest holding. Perceptive Advisors LLC’s holdings in Intra-Cellular Therapies were worth $117,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of Intra-Cellular Therapies in the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC acquired a new position in Intra-Cellular Therapies during the first quarter worth $53,000. Summit Securities Group LLC acquired a new stake in Intra-Cellular Therapies in the second quarter valued at $56,000. Finally, CWM LLC boosted its position in shares of Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Activity

In related news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,229,876. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The disclosure for this sale can be found here. Insiders sold a total of 175,316 shares of company stock valued at $13,037,345 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ITCI shares. Mizuho increased their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 21st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price objective on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.58.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $73.30 on Monday. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89. The stock has a market capitalization of $7.74 billion, a P/E ratio of -63.19 and a beta of 1.00. The company has a 50 day moving average price of $75.44 and a two-hundred day moving average price of $71.77.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm had revenue of $161.40 million during the quarter, compared to analyst estimates of $157.74 million. During the same period in the prior year, the firm posted ($0.45) earnings per share. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. Research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current fiscal year.

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.