Principal Financial Group Inc. Has $39.65 Million Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Principal Financial Group Inc. lifted its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 578,848 shares of the biopharmaceutical company’s stock after purchasing an additional 51,480 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Intra-Cellular Therapies worth $39,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ITCI. Kapitalo Investimentos Ltda acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new position in Intra-Cellular Therapies during the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC acquired a new position in Intra-Cellular Therapies during the 1st quarter worth approximately $53,000. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth approximately $56,000. Finally, Cape Investment Advisory Inc. acquired a new position in Intra-Cellular Therapies during the 4th quarter worth approximately $78,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ITCI has been the subject of a number of recent research reports. UBS Group reduced their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Mizuho upped their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. The Goldman Sachs Group cut their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $73.28 on Friday. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of -63.17 and a beta of 1.01. The company has a 50-day simple moving average of $74.95 and a 200 day simple moving average of $71.19. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. Intra-Cellular Therapies’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.45) EPS. Sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark Neumann sold 18,714 shares of the business’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 completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,229,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The disclosure for this sale can be found here. Insiders sold 199,778 shares of company stock valued at $14,892,738 in the last quarter. Company insiders own 3.40% of the company’s stock.

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.