KLP Kapitalforvaltning AS Makes New $1.71 Million Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

KLP Kapitalforvaltning AS bought a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,712,000.

Several other large investors have also modified their holdings of the business. Wasatch Advisors LP raised its holdings in Intra-Cellular Therapies by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock valued at $281,601,000 after buying an additional 130,351 shares during the period. Bellevue Group AG raised its stake in shares of Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock valued at $181,873,000 after acquiring an additional 14,342 shares during the period. State Street Corp lifted its holdings in shares of Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after acquiring an additional 56,664 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Intra-Cellular Therapies by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock worth $129,463,000 after purchasing an additional 155,655 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Intra-Cellular Therapies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,301 shares of the biopharmaceutical company’s stock valued at $125,029,000 after purchasing an additional 22,128 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ ITCI opened at $131.81 on Friday. The business has a 50-day moving average of $129.12 and a two-hundred day moving average of $99.45. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of -151.50 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 1 year low of $64.09 and a 1 year high of $131.87.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. As a group, equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITCI. StockNews.com began coverage on Intra-Cellular Therapies in a research report on Friday. They set a “hold” rating for the company. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Ten equities research 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, the stock has a consensus rating of “Hold” and an average price target of $106.08.

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.