Inceptionr LLC Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Inceptionr LLC purchased a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,375 shares of the biopharmaceutical company's stock, valued at approximately $1,034,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in Intra-Cellular Therapies by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company's stock worth $327,000 after purchasing an additional 131 shares in the last quarter. M&T Bank Corp lifted its position in shares of Intra-Cellular Therapies by 2.2% in the fourth quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company's stock worth $526,000 after buying an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Intra-Cellular Therapies by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company's stock valued at $748,000 after buying an additional 141 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Intra-Cellular Therapies by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company's stock valued at $247,000 after buying an additional 150 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its stake in Intra-Cellular Therapies by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company's stock worth $266,000 after acquiring an additional 192 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on ITCI shares. StockNews.com initiated coverage on Intra-Cellular Therapies in a research report on Tuesday, March 4th. They set a "hold" rating on the stock. Baird R W lowered Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Mizuho lowered shares of Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $140.00 to $132.00 in a research note on Monday, February 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $106.08.

Intra-Cellular Therapies Stock Performance

ITCI traded up $0.01 on Monday, hitting $131.25. The company had a trading volume of 2,622,858 shares, compared to its average volume of 1,300,059. Intra-Cellular Therapies, Inc. has a 12-month low of $63.30 and a 12-month high of $131.39. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of -150.86 and a beta of 0.69. The stock has a fifty day moving average price of $119.20 and a 200-day moving average price of $93.68.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). 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 $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Analysts forecast 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.