HealthInvest Partners AB Has $6.19 Million Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

HealthInvest Partners AB grew its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 136.0% during the third quarter, Holdings Channel.com reports. The firm owned 84,578 shares of the biopharmaceutical company’s stock after buying an additional 48,737 shares during the period. Intra-Cellular Therapies comprises about 2.9% of HealthInvest Partners AB’s portfolio, making the stock its 14th biggest holding. HealthInvest Partners AB’s holdings in Intra-Cellular Therapies were worth $6,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in Intra-Cellular Therapies in the second quarter valued at about $56,000. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies during the third quarter valued at approximately $74,000. CWM LLC lifted its stake in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares during the last quarter. Covestor Ltd grew its position in Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 521 shares in the last quarter. Finally, EntryPoint Capital LLC increased its stake in shares of Intra-Cellular Therapies by 138.7% during the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,259 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. UBS Group decreased their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price target on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Insider Activity

In related news, CEO Sharon Mates sold 40,513 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $73.58, for a total value of $2,980,946.54. Following the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $78,754,807.82. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the firm’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. Over the last ninety days, insiders have sold 126,458 shares of company stock worth $9,659,949. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of ITCI traded down $0.29 during trading hours on Thursday, reaching $85.35. 2,208 shares of the company traded hands, compared to its average volume of 856,295. The stock’s fifty day moving average is $78.84 and its 200 day moving average is $74.58. Intra-Cellular Therapies, Inc. has a 1-year low of $58.14 and a 1-year high of $93.45. The stock has a market cap of $9.05 billion, a P/E ratio of -98.44 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) 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 firm had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the company earned ($0.25) EPS. The company’s revenue was up 39.0% on a year-over-year basis. On average, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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.