Bank of Montreal Can cut its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 78.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,198 shares of the biopharmaceutical company's stock after selling 228,777 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Intra-Cellular Therapies worth $4,706,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company's stock valued at $327,000 after buying an additional 131 shares during the last quarter. EFG Asset Management North America Corp. boosted its stake in shares of Intra-Cellular Therapies by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company's stock valued at $2,357,000 after buying an additional 163 shares in the last quarter. Assetmark Inc. boosted its position in shares of Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company's stock worth $181,000 after purchasing an additional 207 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company's stock worth $2,610,000 after acquiring an additional 223 shares in the last quarter. Finally, US Bancorp DE boosted its position in Intra-Cellular Therapies by 3.3% during the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company's stock worth $582,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company's stock.
Insiders Place Their Bets
In related news, President Michael Halstead sold 22,869 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ITCI. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Morgan Stanley increased their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Piper Sandler raised Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.23.
Get Our Latest Report on ITCI
Intra-Cellular Therapies Trading Up 0.8 %
Shares of ITCI stock traded up $0.64 on Wednesday, hitting $85.95. 365,475 shares of the stock were exchanged, compared to its average volume of 841,988. Intra-Cellular Therapies, Inc. has a one year low of $58.92 and a one year high of $93.45. The firm's 50 day moving average is $80.90 and its two-hundred day moving average is $75.90. The firm has a market capitalization of $9.11 billion, a PE ratio of -98.79 and a beta of 0.95.
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 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 business's quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) EPS. On average, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.
Intra-Cellular Therapies Profile
(
Free Report)
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.
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