MQS Management LLC Acquires Shares of 3,672 Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

MQS Management LLC bought a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 3rd quarter, Holdings Channel reports. The fund bought 3,672 shares of the biopharmaceutical company’s stock, valued at approximately $269,000.

A number of other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in Intra-Cellular Therapies by 50.8% in the 1st quarter. SG Americas Securities LLC now owns 4,590 shares of the biopharmaceutical company’s stock worth $318,000 after acquiring an additional 1,547 shares during the last quarter. Swiss National Bank raised its stake in Intra-Cellular Therapies by 0.3% during the first quarter. Swiss National Bank now owns 170,900 shares of the biopharmaceutical company’s stock valued at $11,826,000 after purchasing an additional 500 shares in the last quarter. Sei Investments Co. lifted its position in Intra-Cellular Therapies by 9.8% during the first quarter. Sei Investments Co. now owns 128,311 shares of the biopharmaceutical company’s stock valued at $8,880,000 after purchasing an additional 11,488 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Intra-Cellular Therapies in the 1st quarter worth $32,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Intra-Cellular Therapies by 232.0% in the 1st 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 currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $87.63 on Friday. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of -102.34 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a 1-year low of $54.17 and a 1-year high of $93.45. The company has a 50-day moving average of $77.77 and a 200 day moving average of $74.12.

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). 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 for the quarter, compared to the consensus estimate of $172.30 million. During the same period in the prior year, the firm posted ($0.25) EPS. The business’s revenue was up 39.0% on a year-over-year basis. On average, equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders sold a total of 179,471 shares of company stock valued at $13,670,383 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ITCI. Morgan Stanley increased their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $92.00 in a report on Friday, September 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.