Entropy Technologies LP Buys Shares of 7,116 Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Entropy Technologies LP acquired a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,116 shares of the biopharmaceutical company's stock, valued at approximately $521,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versor Investments LP bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $257,000. State of New Jersey Common Pension Fund D grew its holdings in shares of Intra-Cellular Therapies by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company's stock valued at $2,610,000 after purchasing an additional 223 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Intra-Cellular Therapies by 6.5% during the third quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company's stock valued at $32,055,000 after purchasing an additional 26,600 shares during the last quarter. Covestor Ltd grew its holdings 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 purchasing an additional 521 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in shares of Intra-Cellular Therapies by 41.1% during the third quarter. Atria Investments Inc now owns 5,137 shares of the biopharmaceutical company's stock valued at $376,000 after purchasing an additional 1,497 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

Intra-Cellular Therapies Stock Down 4.8 %

ITCI traded down $4.21 during trading on Friday, reaching $83.42. The stock had a trading volume of 628,182 shares, compared to its average volume of 864,070. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of -95.88 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a 1-year low of $54.17 and a 1-year high of $93.45. The stock has a 50 day moving average of $78.27 and a two-hundred day moving average of $74.29.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.25) earnings per share. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The stock was 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 owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their position. The sale was disclosed in a legal 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. In the last 90 days, insiders sold 179,471 shares of company stock worth $13,670,383. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITCI. UBS Group lowered their target price 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. JPMorgan Chase & Co. upped their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Piper Sandler upgraded Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group reduced their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.23.

Intra-Cellular Therapies 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.