Norges Bank Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Norges Bank acquired a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,212,964 shares of the biopharmaceutical company’s stock, valued at approximately $268,347,000.

A number of other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC raised its stake in Intra-Cellular Therapies by 62.9% in the third quarter. Cerity Partners LLC now owns 44,107 shares of the biopharmaceutical company’s stock valued at $3,227,000 after buying an additional 17,027 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Intra-Cellular Therapies by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,057 shares of the biopharmaceutical company’s stock valued at $1,614,000 after purchasing an additional 283 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Intra-Cellular Therapies by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,522 shares of the biopharmaceutical company’s stock valued at $1,648,000 after purchasing an additional 2,622 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intra-Cellular Therapies by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 323,208 shares of the biopharmaceutical company’s stock worth $23,649,000 after purchasing an additional 11,104 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Intra-Cellular Therapies by 47.0% during the 3rd quarter. Captrust Financial Advisors now owns 8,050 shares of the biopharmaceutical company’s stock worth $589,000 after purchasing an additional 2,572 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ITCI has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. StockNews.com initiated coverage on Intra-Cellular Therapies in a report on Friday. They issued a “hold” rating on the stock. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $131.81 on Friday. The company has a market capitalization of $14.04 billion, a PE ratio of -151.50 and a beta of 0.69. The company’s fifty day moving average price is $129.12 and its 200 day moving average price is $99.63. Intra-Cellular Therapies, Inc. has a 1 year low of $64.09 and a 1 year high of $131.87.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). 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 $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. On average, equities analysts expect 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.