Hood River Capital Management LLC Invests $33.39 Million in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Hood River Capital Management LLC purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 487,518 shares of the biopharmaceutical company’s stock, valued at approximately $33,390,000. Hood River Capital Management LLC owned about 0.46% of Intra-Cellular Therapies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. grew its holdings in Intra-Cellular Therapies by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after buying an additional 163 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Intra-Cellular Therapies by 16.3% in the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 219 shares during the period. Assetmark Inc. increased its position in Intra-Cellular Therapies by 17.8% during the fourth quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 338 shares during the last quarter. 1492 Capital Management LLC raised its stake in Intra-Cellular Therapies by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 35,293 shares of the biopharmaceutical company’s stock worth $2,528,000 after purchasing an additional 361 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in Intra-Cellular Therapies in the 4th quarter valued at about $26,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $77.61 on Monday. The company has a market cap of $8.19 billion, a P/E ratio of -66.91 and a beta of 1.00. The stock has a 50-day moving average of $75.67 and a two-hundred day moving average of $71.51. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89.

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

Wall Street Analysts Forecast Growth

ITCI has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group reduced their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada decreased their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.58.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value 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 approximately $80,970,388.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,229,876. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sharon Mates sold 53,013 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,316 shares of company stock worth $13,037,345. Company insiders own 3.40% of the company’s stock.

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.