F M Investments LLC Buys New Shares in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

F M Investments LLC purchased a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 36,920 shares of the biopharmaceutical company’s stock, valued at approximately $3,084,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITCI. Vanguard Group Inc. increased its position in shares of Intra-Cellular Therapies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock valued at $811,928,000 after acquiring an additional 93,107 shares during the last quarter. Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter valued at approximately $268,347,000. Invesco Ltd. increased its position in shares of Intra-Cellular Therapies by 2.9% during the 4th quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock worth $257,006,000 after purchasing an additional 87,582 shares during the last quarter. State Street Corp raised its stake in shares of Intra-Cellular Therapies by 3.1% during the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after purchasing an additional 56,664 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Intra-Cellular Therapies by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 1,776,880 shares of the biopharmaceutical company’s stock valued at $148,405,000 after buying an additional 23,594 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ITCI shares. Mizuho downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $132.00 in a report on Monday, February 24th. Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $132.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 2nd. Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price objective for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Finally, Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.23.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $131.87 on Friday. The firm has a 50-day moving average price of $130.19 and a two-hundred day moving average price of $103.76. Intra-Cellular Therapies, Inc. has a 12-month low of $64.09 and a 12-month high of $131.98. The company has a market capitalization of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly 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). The company had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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.