Park Avenue Securities LLC Invests $237,000 in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Park Avenue Securities LLC purchased a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 5,098 shares of the biopharmaceutical company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $248,502,000. Vanguard Group Inc. boosted its position in shares of Intra-Cellular Therapies by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 7,788,469 shares of the biopharmaceutical company’s stock worth $476,577,000 after buying an additional 912,268 shares in the last quarter. BlackRock Inc. boosted its position in shares of Intra-Cellular Therapies by 13.1% in the 1st quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company’s stock worth $395,924,000 after buying an additional 748,651 shares in the last quarter. Invesco Ltd. boosted its position in shares of Intra-Cellular Therapies by 1,374.7% in the 1st quarter. Invesco Ltd. now owns 478,385 shares of the biopharmaceutical company’s stock worth $29,272,000 after buying an additional 445,945 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its position in shares of Intra-Cellular Therapies by 468.4% in the 1st quarter. Polar Capital Holdings Plc now owns 521,443 shares of the biopharmaceutical company’s stock worth $31,907,000 after buying an additional 429,708 shares in the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ITCI has been the topic of several recent research reports. Mizuho reiterated a “buy” rating and issued a $72.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, October 3rd. Canaccord Genuity Group boosted their price objective on shares of Intra-Cellular Therapies from $90.00 to $93.00 in a research report on Friday, November 4th. Finally, StockNews.com upgraded shares of Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $69.29.

Insider Activity

In other news, EVP Michael Halstead sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $53.73, for a total transaction of $2,686,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Joel S. Marcus sold 5,000 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $50.82, for a total transaction of $254,100.00. Following the completion of the sale, the director now owns 29,233 shares of the company’s stock, valued at approximately $1,485,621.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Halstead sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $53.73, for a total transaction of $2,686,500.00. The disclosure for this sale can be found here. Insiders sold a total of 88,083 shares of company stock valued at $4,760,165 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $48.53 on Tuesday. Intra-Cellular Therapies, Inc. has a 12 month low of $40.61 and a 12 month high of $66.00. The company has a 50-day moving average of $51.26 and a 200-day moving average of $50.84. The company has a market cap of $4.60 billion, a P/E ratio of -14.62 and a beta of 1.18.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.29. Intra-Cellular Therapies had a negative net margin of 158.39% and a negative return on equity of 45.52%. The company had revenue of $71.87 million during the quarter, compared to the consensus estimate of $64.95 million. As a group, equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -2.87 EPS for the current year.

Intra-Cellular Therapies Company Profile

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Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.