Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,099 shares of the biopharmaceutical company's stock, valued at approximately $1,251,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in shares of Intra-Cellular Therapies by 106.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,023 shares of the biopharmaceutical company's stock valued at $1,178,000 after buying an additional 8,760 shares during the period. Tidal Investments LLC grew its holdings in shares of Intra-Cellular Therapies by 13.9% in the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company's stock worth $256,000 after purchasing an additional 450 shares during the last quarter. Farallon Capital Management LLC purchased a new position in Intra-Cellular Therapies in the 1st quarter worth about $15,985,000. First Hawaiian Bank boosted its position in Intra-Cellular Therapies by 8.3% in the 2nd quarter. First Hawaiian Bank now owns 6,466 shares of the biopharmaceutical company's stock valued at $443,000 after buying an additional 493 shares during the period. Finally, DNB Asset Management AS grew its stake in Intra-Cellular Therapies by 20.1% in the 2nd quarter. DNB Asset Management AS now owns 80,155 shares of the biopharmaceutical company's stock worth $5,484,000 after acquiring an additional 13,402 shares in the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $77,962,764.36. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITCI. UBS Group lowered their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Royal Bank of Canada lifted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an "outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Piper Sandler raised shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $68.00 to $92.00 in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $86.43 on Wednesday. The business's 50-day simple moving average is $79.67 and its two-hundred day simple moving average is $75.13. The company has a market cap of $9.16 billion, a PE ratio of -99.34 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a fifty-two week low of $58.14 and a fifty-two week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $172.30 million. During the same quarter in the prior year, the company earned ($0.25) EPS. Intra-Cellular Therapies's quarterly revenue was up 39.0% on a year-over-year basis. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal 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.