Barclays PLC Boosts Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Barclays PLC boosted its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 282.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,453 shares of the biopharmaceutical company’s stock after acquiring an additional 25,435 shares during the period. Barclays PLC’s holdings in Intra-Cellular Therapies were worth $2,521,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ITCI. True Wealth Design LLC acquired a new position in Intra-Cellular Therapies during the third quarter worth $32,000. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies during the 3rd quarter worth about $74,000. Quarry LP lifted its stake in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 1,300 shares in the last quarter. Covestor Ltd boosted its holdings in Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 521 shares during the period. Finally, Assetmark Inc. increased its stake in Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Up 1.5 %

ITCI stock opened at $85.24 on Thursday. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of -97.98 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $93.45. The business has a 50 day moving average price of $84.05 and a 200 day moving average price of $77.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) 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 company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the previous year, the company posted ($0.25) EPS. The company’s quarterly revenue was up 39.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Analyst Upgrades and Downgrades

ITCI has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Morgan Stanley increased their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.23.

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.