TimesSquare Capital Management LLC Increases Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

TimesSquare Capital Management LLC boosted its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 91.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 840,269 shares of the biopharmaceutical company's stock after acquiring an additional 402,186 shares during the quarter. TimesSquare Capital Management LLC owned 0.79% of Intra-Cellular Therapies worth $70,179,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ITCI. Avior Wealth Management LLC lifted its position in shares of Intra-Cellular Therapies by 3.0% during the third 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 during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Intra-Cellular Therapies by 1.6% in the 4th 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 period. CIBC Asset Management Inc grew its stake in Intra-Cellular Therapies by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company's stock worth $247,000 after acquiring an additional 150 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Intra-Cellular Therapies by 6.4% during the fourth 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 period. Finally, Assetmark Inc. raised its stake in shares of Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company's stock valued at $181,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ITCI shares. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Piper Sandler restated a "neutral" rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Leerink Partnrs downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a report on Sunday, February 16th. They set a "hold" rating on the stock. Finally, Needham & Company LLC restated a "hold" rating on shares of Intra-Cellular Therapies in a report on Friday. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $103.62.

Insider Activity

In related news, CEO Sharon Mates sold 51,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company's stock.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI traded up $0.06 during mid-day trading on Friday, hitting $128.60. 1,263,662 shares of the company's stock traded hands, compared to its average volume of 2,149,492. The company has a fifty day moving average of $110.27 and a 200 day moving average of $89.64. Intra-Cellular Therapies, Inc. has a twelve month low of $62.78 and a twelve month high of $128.77. The company has a market capitalization of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72.

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). The company had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. On average, research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

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.