Arizona State Retirement System Has $2.30 Million Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Arizona State Retirement System grew its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,565 shares of the biopharmaceutical company’s stock after purchasing an additional 206 shares during the quarter. Arizona State Retirement System’s holdings in Intra-Cellular Therapies were worth $2,302,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Aigen Investment Management LP increased its position in shares of Intra-Cellular Therapies by 35.3% during the 4th quarter. Aigen Investment Management LP now owns 20,153 shares of the biopharmaceutical company’s stock worth $1,683,000 after purchasing an additional 5,263 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $1,590,000. M&T Bank Corp increased its position in shares of Intra-Cellular Therapies by 2.2% during the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 138 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $975,000. Finally, Jones Financial Companies Lllp increased its position in shares of Intra-Cellular Therapies by 71.6% during the 4th quarter. Jones Financial Companies Lllp now owns 6,590 shares of the biopharmaceutical company’s stock worth $550,000 after purchasing an additional 2,750 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their target price for the stock from $119.00 to $132.00 in a research note on Friday, January 31st. 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 research note on Wednesday, January 22nd. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Mizuho downgraded Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Finally, Piper Sandler reiterated a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $106.08.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $131.25 on Tuesday. The stock has a fifty day moving average price of $120.15 and a 200-day moving average price of $94.08. The company has a market cap of $13.96 billion, a price-to-earnings ratio of -150.86 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a fifty-two week low of $63.30 and a fifty-two week high of $131.36.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The company had revenue of $199.22 million for 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%. Research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS 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.