Erste Asset Management GmbH Purchases Shares of 23,400 Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Erste Asset Management GmbH bought 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 & Exchange Commission. The institutional investor bought 23,400 shares of the biopharmaceutical company's stock, valued at approximately $1,715,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at $32,000. Bellevue Group AG lifted its holdings in Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company's stock valued at $181,873,000 after acquiring an additional 14,342 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 3.5% during 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 in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $3,997,000. Finally, Captrust Financial Advisors raised its holdings in shares of Intra-Cellular Therapies by 47.0% in the 3rd quarter. Captrust Financial Advisors now owns 8,050 shares of the biopharmaceutical company's stock worth $589,000 after purchasing an additional 2,572 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of the firm's 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Piper Sandler upgraded Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and increased their price target for the company from $68.00 to $92.00 in a research report on Friday, September 6th. The Goldman Sachs Group cut their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley raised their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies has an average rating of "Moderate Buy" and an average price target of $97.23.

Intra-Cellular Therapies Price Performance

ITCI traded up $0.64 during trading on Wednesday, reaching $85.95. 365,475 shares of the stock traded hands, compared to its average volume of 841,988. The stock's 50-day simple moving average is $80.67 and its two-hundred day simple moving average is $75.83. Intra-Cellular Therapies, Inc. has a fifty-two week low of $58.92 and a fifty-two week high of $93.45. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of -98.06 and a beta of 0.95.

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). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same period in the prior year, the firm earned ($0.25) earnings per share. The business's revenue was up 39.0% on a year-over-year basis. Research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share 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.