True Wealth Design LLC Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 434 shares of the biopharmaceutical company’s stock, valued at approximately $32,000.

Several other institutional investors have also recently made changes to their positions in the stock. Oak Ridge Investments LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth approximately $811,000. SG Americas Securities LLC increased its holdings in shares of 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 acquiring an additional 44,188 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Intra-Cellular Therapies by 31.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock worth $33,258,000 after purchasing an additional 109,892 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of Intra-Cellular Therapies by 6.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after purchasing an additional 26,600 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $14,755,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. The Goldman Sachs Group lowered 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. Morgan Stanley lifted their price target 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. 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. Finally, Royal Bank of Canada lifted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $85.65 on Monday. Intra-Cellular Therapies, Inc. has a 1 year low of $58.92 and a 1 year high of $93.45. The company has a market capitalization of $9.08 billion, a PE ratio of -98.45 and a beta of 0.97. The business has a fifty day moving average price of $80.27 and a two-hundred day moving average price of $75.55.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly 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). The company had revenue of $175.40 million for 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%. Intra-Cellular Therapies’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) EPS. Sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the company’s 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 SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

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.