Principal Financial Group Inc. Raises Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Principal Financial Group Inc. lifted its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.3% during the third quarter, HoldingsChannel.com reports. The firm owned 597,713 shares of the biopharmaceutical company’s stock after purchasing an additional 18,865 shares during the period. Principal Financial Group Inc.’s holdings in Intra-Cellular Therapies were worth $43,735,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies during the third quarter worth about $32,000. Summit Securities Group LLC acquired a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $56,000. Capital Performance Advisors LLP purchased a new position in Intra-Cellular Therapies in the 3rd quarter valued at approximately $74,000. Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies during the third quarter worth $97,000. Finally, Quarry LP boosted its position in Intra-Cellular Therapies by 260.0% during the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 0.8 %

Shares of NASDAQ:ITCI opened at $83.45 on Monday. The company has a market cap of $8.85 billion, a P/E ratio of -95.92 and a beta of 0.95. The business has a fifty day simple moving average of $83.64 and a 200-day simple moving average of $77.47. Intra-Cellular Therapies, Inc. has a 52 week low of $62.78 and a 52 week high of $93.45.

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

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction on 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. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ITCI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Finally, Royal Bank of Canada raised their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

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.