Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 110.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,633 shares of the biopharmaceutical company’s stock after purchasing an additional 137,432 shares during the period. Squarepoint Ops LLC owned approximately 0.25% of Intra-Cellular Therapies worth $17,919,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ITCI. UBS Group AG lifted its position in Intra-Cellular Therapies by 205.3% in the fourth quarter. UBS Group AG now owns 134,762 shares of the biopharmaceutical company’s stock worth $9,652,000 after purchasing an additional 90,617 shares during the period. Assetmark Inc. increased its holdings in shares of Intra-Cellular Therapies by 17.8% in the fourth quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 338 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 16.3% in the fourth quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 219 shares in the last quarter. TD Asset Management Inc bought a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $5,203,000. Finally, Evoke Wealth LLC bought a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $1,747,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on ITCI shares. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $68.00 to $92.00 in a report on Friday, September 6th. Canaccord Genuity Group upped their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Royal Bank of Canada dropped their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, The Goldman Sachs Group cut their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average price target of $96.58.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. 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. 3.40% of the stock is owned by insiders.

Intra-Cellular Therapies Trading Down 1.6 %

NASDAQ ITCI opened at $73.21 on Friday. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89. The company has a market capitalization of $7.73 billion, a PE ratio of -63.11 and a beta of 1.00. The firm’s fifty day simple moving average is $75.47 and its 200-day simple moving average is $71.66.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. During the same period in the prior year, the business posted ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% compared to the same quarter last year. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current 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.