Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC decreased its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,245 shares of the biopharmaceutical company’s stock after selling 669 shares during the period. HighPoint Advisor Group LLC’s holdings in Intra-Cellular Therapies were worth $188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 240 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Intra-Cellular Therapies during the 4th quarter worth $96,000. Wilmington Savings Fund Society FSB acquired a new position in Intra-Cellular Therapies during the 3rd quarter worth $97,000. Quarry LP increased its holdings in shares of Intra-Cellular Therapies by 260.0% during the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 1,300 shares during the period. Finally, Barlow Wealth Partners Inc. bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at about $184,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ITCI has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their target price for the company from $119.00 to $132.00 in a research report on Friday, January 31st. StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a research note on Saturday. They set a “hold” rating on the stock. Piper Sandler reissued a “neutral” rating and set a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Finally, Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of “Hold” and an average price target of $106.23.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $131.87 on Friday. The business’s fifty day moving average price is $129.62 and its 200 day moving average price is $101.43. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 1-year low of $64.09 and a 1-year high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

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.