Connor Clark & Lunn Investment Management Ltd. Invests $1.25 Million in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the third quarter, HoldingsChannel.com reports. The fund purchased 17,099 shares of the biopharmaceutical company’s stock, valued at approximately $1,251,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in Intra-Cellular Therapies by 106.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,023 shares of the biopharmaceutical company’s stock valued at $1,178,000 after buying an additional 8,760 shares during the period. Tidal Investments LLC increased its stake in Intra-Cellular Therapies by 13.9% in the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 450 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Intra-Cellular Therapies during the first quarter valued at approximately $15,985,000. First Hawaiian Bank lifted its stake in Intra-Cellular Therapies by 8.3% during the second quarter. First Hawaiian Bank now owns 6,466 shares of the biopharmaceutical company’s stock worth $443,000 after purchasing an additional 493 shares during the last quarter. Finally, DNB Asset Management AS boosted its holdings in shares of Intra-Cellular Therapies by 20.1% in the 2nd quarter. DNB Asset Management AS now owns 80,155 shares of the biopharmaceutical company’s stock valued at $5,484,000 after purchasing an additional 13,402 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ITCI shares. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. UBS Group dropped their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley raised their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada upped their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $86.43 on Wednesday. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of -99.34 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a fifty-two week low of $58.14 and a fifty-two week high of $93.45. The firm’s 50-day simple moving average is $79.45 and its 200 day simple moving average is $74.98.

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

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 approximately $77,962,764.36. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Company 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.