Renaissance Technologies LLC Purchases 125,700 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Renaissance Technologies LLC increased its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 130.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,400 shares of the biopharmaceutical company’s stock after purchasing an additional 125,700 shares during the period. Renaissance Technologies LLC owned about 0.21% of Intra-Cellular Therapies worth $15,232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Avoro Capital Advisors LLC bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at $161,543,000. Norges Bank bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at $85,744,000. Vanguard Group Inc. grew its position in Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock valued at $651,334,000 after acquiring an additional 554,577 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Intra-Cellular Therapies in the first quarter valued at $18,379,000. Finally, Farallon Capital Management LLC bought a new stake in Intra-Cellular Therapies in the first quarter valued at $15,985,000. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Stock Up 0.8 %

Shares of ITCI opened at $77.61 on Friday. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $84.89. The stock’s fifty day simple moving average is $75.67 and its 200-day simple moving average is $71.47. The firm has a market capitalization of $8.19 billion, a PE ratio of -66.91 and a beta of 1.00.

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

Analyst Ratings Changes

A number of analysts have weighed in on ITCI shares. Canaccord Genuity Group upped their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. The Goldman Sachs Group decreased their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Mizuho increased their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.58.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction dated 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 of the company’s stock, valued at $8,811,462. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,778 shares of company stock valued at $13,374,538. 3.40% of the stock is currently owned by company insiders.

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.