Geode Capital Management LLC Acquires 22,128 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Geode Capital Management LLC lifted its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,708,301 shares of the biopharmaceutical company’s stock after acquiring an additional 22,128 shares during the quarter. Geode Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $125,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITCI. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies in the third quarter valued at $32,000. Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies in the 2nd quarter worth about $56,000. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $74,000. Quarry LP boosted its stake in shares of Intra-Cellular Therapies by 260.0% during the 3rd 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 in the last quarter. Finally, Covestor Ltd increased its position in shares of Intra-Cellular Therapies by 40.4% during the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 521 shares during the period. Institutional investors own 92.33% of the company’s stock.

Analysts Set New Price Targets

ITCI has been the subject of a number of research analyst reports. Royal Bank of Canada raised their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Finally, Morgan Stanley lifted their target price 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. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Intra-Cellular Therapies Stock Up 2.2 %

Shares of NASDAQ ITCI opened at $86.96 on Wednesday. The firm has a market cap of $9.22 billion, a P/E ratio of -99.95 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a twelve month low of $62.78 and a twelve month high of $93.45. The company has a 50 day moving average of $82.71 and a 200 day moving average of $76.98.

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 business had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.25) EPS. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal 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.