Belpointe Asset Management LLC Makes New $64,000 Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Belpointe Asset Management LLC acquired a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,214 shares of the biopharmaceutical company’s stock, valued at approximately $64,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Intra-Cellular Therapies during the first quarter worth about $248,502,000. Vanguard Group Inc. lifted its position in shares of Intra-Cellular Therapies by 13.3% during the 1st quarter. Vanguard Group Inc. now owns 7,788,469 shares of the biopharmaceutical company’s stock valued at $476,577,000 after acquiring an additional 912,268 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Intra-Cellular Therapies by 13.1% during the 1st quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company’s stock worth $395,924,000 after acquiring an additional 748,651 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth $30,514,000. Finally, Invesco Ltd. lifted its holdings in shares of Intra-Cellular Therapies by 1,374.7% during the first quarter. Invesco Ltd. now owns 478,385 shares of the biopharmaceutical company’s stock valued at $29,272,000 after purchasing an additional 445,945 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, SVP Suresh K. Durgam sold 8,354 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $46.84, for a total value of $391,301.36. Following the transaction, the senior vice president now directly owns 23,104 shares in the company, valued at $1,082,191.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Suresh K. Durgam sold 8,354 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $46.84, for a total transaction of $391,301.36. Following the transaction, the senior vice president now owns 23,104 shares of the company’s stock, valued at $1,082,191.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nostrand Robert L. Van sold 10,000 shares of the company’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $63.00, for a total transaction of $630,000.00. Following the transaction, the director now owns 9,345 shares of the company’s stock, valued at $588,735. The disclosure for this sale can be found here. Insiders sold 224,859 shares of company stock worth $10,537,711 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Intra-Cellular Therapies from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, March 29th. Morgan Stanley began coverage on Intra-Cellular Therapies in a research report on Thursday, April 20th. They set an “overweight” rating and a $80.00 price objective for the company. StockNews.com began coverage on Intra-Cellular Therapies in a report on Thursday. They issued a “hold” rating on the stock. Canaccord Genuity Group boosted their price objective on shares of Intra-Cellular Therapies from $93.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, March 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, March 9th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.45.

Intra-Cellular Therapies Stock Performance

ITCI opened at $62.42 on Monday. The firm has a market cap of $5.99 billion, a P/E ratio of -26.01 and a beta of 1.15. The business has a 50 day moving average price of $57.65 and a 200 day moving average price of $52.74. Intra-Cellular Therapies, Inc. has a twelve month low of $42.01 and a twelve month high of $66.56.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.17. Intra-Cellular Therapies had a negative net margin of 73.46% and a negative return on equity of 33.92%. The business had revenue of $95.31 million during the quarter, compared to analysts’ expectations of $92.14 million. As a group, analysts anticipate that Intra-Cellular Therapies, Inc. will post -2.32 earnings per share for the current fiscal year.

Intra-Cellular Therapies Company Profile

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.