M&G Plc Acquires New Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

M&G Plc bought a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 3rd quarter, Holdings Channel.com reports. The fund bought 124,324 shares of the biopharmaceutical company’s stock, valued at approximately $9,076,000.

Other large investors also recently added to or reduced their stakes in the company. Oak Ridge Investments LLC bought a new position in shares of Intra-Cellular Therapies in the 2nd quarter valued at approximately $811,000. SG Americas Securities LLC grew its holdings in Intra-Cellular Therapies by 962.7% during the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after purchasing an additional 44,188 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Intra-Cellular Therapies in the first quarter worth $18,379,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Intra-Cellular Therapies by 232.0% in the first quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company’s stock worth $3,519,000 after buying an additional 35,528 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction that occurred on 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 directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,316 shares of company stock worth $13,037,345 over the last quarter. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ITCI. The Goldman Sachs Group dropped 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 report on Thursday, August 8th. Royal Bank of Canada lifted their price objective 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 increased their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Up 0.9 %

Shares of ITCI stock opened at $91.29 on Friday. Intra-Cellular Therapies, Inc. has a one year low of $52.88 and a one year high of $91.68. The stock has a fifty day moving average price of $76.78 and a 200 day moving average price of $73.77.

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