KLP Kapitalforvaltning AS Takes Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

KLP Kapitalforvaltning AS purchased a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,712,000.

Several other institutional investors also recently added to or reduced their stakes in ITCI. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at approximately $32,000. GAMMA Investing LLC raised its position in Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth $96,000. Wilmington Savings Fund Society FSB purchased a new position in Intra-Cellular Therapies during the 3rd quarter worth $97,000. Finally, Quarry LP increased its stake in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ITCI shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. StockNews.com initiated coverage on Intra-Cellular Therapies in a research note on Friday. They issued a “hold” rating on the stock. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price target for the stock from $119.00 to $132.00 in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Finally, Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Trading Up 0.0 %

Shares of ITCI opened at $131.81 on Friday. Intra-Cellular Therapies, Inc. has a twelve month low of $64.09 and a twelve month high of $131.87. The firm has a market capitalization of $14.04 billion, a P/E ratio of -151.50 and a beta of 0.69. The firm’s 50-day moving average is $129.12 and its two-hundred day moving average is $99.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly 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). The firm had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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.