Lombard Odier Asset Management Europe Ltd Invests $4.11 Million in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Lombard Odier Asset Management Europe Ltd bought a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 60,000 shares of the biopharmaceutical company's stock, valued at approximately $4,109,000. Lombard Odier Asset Management Europe Ltd owned approximately 0.06% of Intra-Cellular Therapies as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new position in Intra-Cellular Therapies in the 4th quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies during the first quarter worth about $32,000. Fidelis Capital Partners LLC bought a new stake in Intra-Cellular Therapies in the first quarter worth about $53,000. Summit Securities Group LLC bought a new stake in Intra-Cellular Therapies in the second quarter worth about $56,000. Finally, Cape Investment Advisory Inc. purchased a new position in Intra-Cellular Therapies in the fourth quarter valued at about $78,000. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI traded down $1.80 during trading hours on Monday, hitting $75.81. The stock had a trading volume of 405,359 shares, compared to its average volume of 920,268. The company has a 50 day simple moving average of $75.61 and a two-hundred day simple moving average of $71.58. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of -65.35 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The business had revenue of $161.40 million during the quarter, compared to analysts' expectations of $157.74 million. During the same period in the previous year, the business earned ($0.45) earnings per share. The firm's revenue was up 45.7% on a year-over-year basis. Equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now directly owns 29,700 shares of the company's stock, valued at approximately $2,229,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mark Neumann sold 18,714 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now directly owns 29,700 shares of the company's stock, valued at approximately $2,229,876. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sharon Mates sold 28,680 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.46, for a total value of $2,135,512.80. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company's stock, valued at approximately $79,696,697.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,316 shares of company stock worth $13,037,345. Insiders own 3.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ITCI. The Goldman Sachs Group decreased their price target on shares of 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. Canaccord Genuity Group boosted their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, June 20th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Piper Sandler raised Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Finally, Mizuho upped their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a "buy" rating in a report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.58.

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.