ClariVest Asset Management LLC Raises Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

ClariVest Asset Management LLC grew its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 64.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,164 shares of the biopharmaceutical company’s stock after acquiring an additional 3,194 shares during the period. ClariVest Asset Management LLC’s holdings in Intra-Cellular Therapies were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ITCI. Avoro Capital Advisors LLC purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth $161,543,000. Norges Bank purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth $85,744,000. Vanguard Group Inc. boosted its position in shares of Intra-Cellular Therapies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after buying an additional 554,577 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $18,379,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $15,985,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITCI shares. The Goldman Sachs Group decreased their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Mizuho boosted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.58.

Insider Activity

In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The disclosure for this sale can be found here. Insiders sold a total of 199,778 shares of company stock valued at $14,892,738 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Intra-Cellular Therapies Trading Up 0.7 %

NASDAQ:ITCI opened at $75.22 on Friday. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $84.89. The company’s 50-day moving average is $75.42 and its two-hundred day moving average is $71.20. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of -64.84 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same quarter in the prior year, the company posted ($0.45) EPS. The company’s quarterly revenue was up 45.7% compared to the same quarter last year. On average, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current fiscal 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.