LMR Partners LLP Grows Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

LMR Partners LLP boosted its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 96.2% in the 3rd quarter, Holdings Channel reports. The fund owned 31,177 shares of the biopharmaceutical company’s stock after acquiring an additional 15,288 shares during the quarter. LMR Partners LLP’s holdings in Intra-Cellular Therapies were worth $2,281,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of 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 valued at $318,000 after purchasing an additional 1,547 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Intra-Cellular Therapies by 232.0% during the first quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company’s stock valued at $3,519,000 after buying an additional 35,528 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Intra-Cellular Therapies by 6.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,496 shares of the biopharmaceutical company’s stock valued at $1,972,000 after buying an additional 1,700 shares during the period. Vanguard Group Inc. boosted its holdings in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after acquiring an additional 131,679 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Intra-Cellular Therapies by 35.0% in the 1st quarter. Edgestream Partners L.P. now owns 18,137 shares of the biopharmaceutical company’s stock valued at $1,255,000 after acquiring an additional 4,707 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 28,680 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.46, for a total value of $2,135,512.80. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $79,696,697.34. This trade represents a 2.61 % 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 stock in a transaction on Tuesday, November 12th. The shares were 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. Insiders have sold a total of 179,471 shares of company stock worth $13,670,383 in the last three months. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ITCI shares. Morgan Stanley raised their price objective 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. UBS Group cut their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Stock Down 1.1 %

Shares of ITCI opened at $82.47 on Tuesday. Intra-Cellular Therapies, Inc. has a 12-month low of $56.83 and a 12-month high of $93.45. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of -95.89 and a beta of 0.97. The stock’s 50-day moving average price is $78.27 and its 200 day moving average price is $74.32.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $172.30 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. Equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS 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.