Covestor Ltd Increases Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Covestor Ltd boosted its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 40.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,811 shares of the biopharmaceutical company’s stock after buying an additional 521 shares during the period. Covestor Ltd’s holdings in Intra-Cellular Therapies were worth $133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ITCI. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies during the first quarter worth about $32,000. Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter valued at about $56,000. Capital Performance Advisors LLP purchased a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. CWM LLC boosted its stake in shares of Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of Intra-Cellular Therapies by 138.7% during the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,259 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intra-Cellular Therapies

In related news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sharon Mates sold 28,680 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.46, for a total value of $2,135,512.80. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $79,696,697.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,316 shares of company stock valued at $13,037,345. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Royal Bank of Canada increased their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $92.00 in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Up 0.3 %

NASDAQ ITCI opened at $91.57 on Tuesday. The stock has a market cap of $9.71 billion, a PE ratio of -105.25 and a beta of 0.97. The business has a 50 day moving average price of $76.78 and a two-hundred day moving average price of $73.77. Intra-Cellular Therapies, Inc. has a fifty-two week low of $52.88 and a fifty-two week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter last year, the company posted ($0.25) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. Sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

About Intra-Cellular Therapies

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.