Skandinaviska Enskilda Banken AB publ Buys 128,908 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 99.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 259,121 shares of the biopharmaceutical company’s stock after purchasing an additional 128,908 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.25% of Intra-Cellular Therapies worth $17,742,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. EFG Asset Management North America Corp. increased its position in shares of Intra-Cellular Therapies by 0.5% during 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 purchasing an additional 163 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Intra-Cellular Therapies by 16.3% during the 4th 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 last quarter. Assetmark Inc. increased its position in shares of Intra-Cellular Therapies by 17.8% during the 4th quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 338 shares during the last quarter. 1492 Capital Management LLC increased its position in shares of Intra-Cellular Therapies by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 35,293 shares of the biopharmaceutical company’s stock valued at $2,528,000 after purchasing an additional 361 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies during the 4th quarter valued at approximately $26,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $77.61 on Friday. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89. The stock’s 50-day moving average is $75.67 and its 200 day moving average is $71.44. The company has a market cap of $8.19 billion, a P/E ratio of -66.91 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. During the same quarter last year, the company earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. On average, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ITCI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Mizuho increased their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.58.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,778 shares of company stock valued at $13,374,538. 3.40% of the stock is currently owned by corporate insiders.

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.