Barclays PLC Increases Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Barclays PLC grew its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 282.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,453 shares of the biopharmaceutical company's stock after purchasing an additional 25,435 shares during the period. Barclays PLC's holdings in Intra-Cellular Therapies were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ITCI. Wasatch Advisors LP boosted its stake in shares of Intra-Cellular Therapies by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company's stock valued at $281,601,000 after purchasing an additional 130,351 shares during the last quarter. Avoro Capital Advisors LLC grew its position in shares of Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company's stock valued at $205,470,000 after purchasing an additional 525,000 shares during the period. Bellevue Group AG boosted its holdings in shares of Intra-Cellular Therapies by 0.6% in the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock valued at $181,873,000 after buying an additional 14,342 shares during the period. State Street Corp increased its holdings in Intra-Cellular Therapies by 3.1% during the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company's stock worth $136,017,000 after purchasing an additional 56,664 shares in the last quarter. Finally, Perceptive Advisors LLC raised its position in Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company's stock valued at $117,557,000 after buying an additional 661,052 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of the company's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock traded up $0.76 during trading hours on Thursday, hitting $86.00. 278,110 shares of the company were exchanged, compared to its average volume of 820,771. The firm has a market cap of $9.12 billion, a P/E ratio of -98.85 and a beta of 0.95. The company has a 50 day simple moving average of $84.24 and a two-hundred day simple moving average of $77.75. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last posted its 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). The business had revenue of $175.40 million for the quarter, compared to the consensus estimate 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 company's revenue was up 39.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) earnings per share. As a group, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target 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 reaffirmed a "buy" rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Royal Bank of Canada upped their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Piper Sandler upgraded 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 note on Friday, September 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies presently has a consensus rating of "Moderate Buy" and an average price target of $97.23.

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.