Jennison Associates LLC Makes New $637,000 Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Jennison Associates LLC acquired a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,212 shares of the biopharmaceutical company’s stock, valued at approximately $637,000.

Several other large investors have also recently modified their holdings of ITCI. Kapitalo Investimentos Ltda purchased a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $26,000. Signaturefd LLC lifted its position in Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 239 shares in the last quarter. Neo Ivy Capital Management bought a new position in Intra-Cellular Therapies in the 3rd quarter valued at approximately $45,000. Fidelis Capital Partners LLC bought a new position in Intra-Cellular Therapies in the 1st quarter valued at approximately $53,000. Finally, Cape Investment Advisory Inc. bought a new position in Intra-Cellular Therapies in the 4th quarter valued at approximately $78,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $120.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, June 14th. Mizuho boosted their target price on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Bank of America boosted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.33.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now directly owns 9,690 shares of the company’s stock, valued at $735,567.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Stock Up 4.3 %

ITCI opened at $77.29 on Thursday. The firm has a 50-day simple moving average of $69.05 and a two-hundred day simple moving average of $69.31. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89. The company has a market capitalization of $8.16 billion, a PE ratio of -66.63 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. During the same quarter last year, the firm earned ($0.46) EPS. The firm’s revenue for the quarter was up 52.0% compared to the same quarter last year. As a group, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.51 earnings per share for the current year.

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.