Harbor Capital Advisors Inc. Raises Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Harbor Capital Advisors Inc. raised its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,921 shares of the biopharmaceutical company’s stock after buying an additional 947 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Intra-Cellular Therapies were worth $3,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock valued at $281,601,000 after acquiring an additional 130,351 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares during the last quarter. Bellevue Group AG grew its stake in Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after buying an additional 14,342 shares in the last quarter. State Street Corp increased its holdings in shares of Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after buying an additional 56,664 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after buying an additional 155,655 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $94.87 on Friday. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of -109.04 and a beta of 0.70. The business’s 50 day moving average price is $85.57 and its two-hundred day moving average price is $78.81. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $98.40.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same quarter last year, the company posted ($0.25) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. Sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley upped their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

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.