Raymond James Financial Inc. Invests $76.45 Million in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Raymond James Financial Inc. acquired a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 915,361 shares of the biopharmaceutical company’s stock, valued at approximately $76,451,000. Raymond James Financial Inc. owned 0.86% of Intra-Cellular Therapies at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ITCI. Avior Wealth Management LLC raised its holdings in Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 131 shares during the period. M&T Bank Corp raised its holdings in Intra-Cellular Therapies by 2.2% in the fourth quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock valued at $526,000 after buying an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after buying an additional 141 shares during the period. CIBC Asset Management Inc raised its holdings in Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 150 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in Intra-Cellular Therapies by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 192 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITCI has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, StockNews.com began coverage on shares of Intra-Cellular Therapies in a research report on Tuesday, March 4th. They issued a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Trading Down 0.0 %

ITCI stock opened at $131.24 on Monday. Intra-Cellular Therapies, Inc. has a twelve month low of $63.30 and a twelve month high of $131.36. The company has a market capitalization of $13.95 billion, a P/E ratio of -150.85 and a beta of 0.69. The firm has a 50 day simple moving average of $119.20 and a 200-day simple moving average of $93.68.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. On average, research analysts predict 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.