Oppenheimer Asset Management Inc. Purchases 6,382 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Oppenheimer Asset Management Inc. lifted its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 21.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,492 shares of the biopharmaceutical company’s stock after acquiring an additional 6,382 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Avoro Capital Advisors LLC acquired a new position in Intra-Cellular Therapies during the fourth quarter valued at approximately $161,543,000. Norges Bank acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth $85,744,000. Vanguard Group Inc. lifted its position in shares of Intra-Cellular Therapies by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after buying an additional 554,577 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Intra-Cellular Therapies in the first quarter valued at about $18,379,000. Finally, Farallon Capital Management LLC bought a new position in Intra-Cellular Therapies in the first quarter valued at about $15,985,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.2 %

NASDAQ:ITCI opened at $75.11 on Wednesday. Intra-Cellular Therapies, Inc. has a twelve month low of $45.50 and a twelve month high of $84.89. The company has a fifty day moving average of $75.76 and a 200-day moving average of $71.31. The firm has a market capitalization of $7.93 billion, a P/E ratio of -64.75 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group lowered their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.58.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction 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 directly owns 1,070,329 shares in the company, valued at $80,970,388.85. The disclosure for this sale can be found here. Insiders sold 179,778 shares of company stock valued at $13,374,538 in the last three months. Corporate 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.