Park Avenue Securities LLC Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Park Avenue Securities LLC purchased a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCIGet Rating) during the 3rd quarter, HoldingsChannel reports. The firm purchased 5,098 shares of the biopharmaceutical company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its position in Intra-Cellular Therapies by 93.8% in the second quarter. US Bancorp DE now owns 496 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Assetmark Inc. raised its position in Intra-Cellular Therapies by 410.0% in the second quarter. Assetmark Inc. now owns 510 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 410 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Intra-Cellular Therapies in the 3rd quarter worth about $41,000. Northern Oak Wealth Management Inc. purchased a new position in Intra-Cellular Therapies in the 2nd quarter worth about $51,000. Finally, Exchange Traded Concepts LLC increased its stake in Intra-Cellular Therapies by 138.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,299 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 754 shares in the last quarter. 86.95% of the stock is currently owned by institutional investors.

Insider Activity at Intra-Cellular Therapies

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

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $48.53 on Tuesday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $40.61 and a fifty-two week high of $66.00. The stock’s 50-day moving average is $51.26 and its two-hundred day moving average is $50.84. The stock has a market cap of $4.60 billion, a PE ratio of -14.62 and a beta of 1.18.

Intra-Cellular Therapies (NASDAQ:ITCIGet Rating) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.29. Intra-Cellular Therapies had a negative return on equity of 45.52% and a negative net margin of 158.39%. The company had revenue of $71.87 million for the quarter, compared to analysts’ expectations of $64.95 million. On average, equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -2.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Mizuho reissued a “buy” rating and issued a $72.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, October 3rd. StockNews.com raised Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Finally, Canaccord Genuity Group lifted their price target on Intra-Cellular Therapies from $90.00 to $93.00 in a research note on Friday, November 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average target price of $69.29.

Intra-Cellular Therapies 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.

Further Reading

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Institutional Ownership by Quarter for Intra-Cellular Therapies (NASDAQ:ITCI)

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