UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 11,104 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 323,208 shares of the biopharmaceutical company's stock after purchasing an additional 11,104 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.30% of Intra-Cellular Therapies worth $23,649,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITCI. Summit Securities Group LLC bought a new position in shares of Intra-Cellular Therapies in the second quarter valued at about $56,000. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. CWM LLC raised its holdings in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 626 shares during the period. Covestor Ltd lifted its position in Intra-Cellular Therapies by 40.4% during the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company's stock worth $133,000 after acquiring an additional 521 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings 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 worth $181,000 after acquiring an additional 207 shares during the period. Institutional investors own 92.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ITCI shares. 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 research note on Friday, October 11th. The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Piper Sandler raised shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Finally, UBS Group cut their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.23.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI traded up $0.46 during mid-day trading on Friday, reaching $84.55. The stock had a trading volume of 274,178 shares, compared to its average volume of 837,606. Intra-Cellular Therapies, Inc. has a 12 month low of $58.92 and a 12 month high of $93.45. The stock has a market capitalization of $8.96 billion, a PE ratio of -97.18 and a beta of 0.95. The stock has a 50-day simple moving average of $81.34 and a two-hundred day simple moving average of $76.09.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same quarter in the previous year, the business posted ($0.25) EPS. The company's revenue for the quarter was up 39.0% on a year-over-year basis. Equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In related news, President Michael Halstead sold 22,869 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,070,329 shares of the company's stock, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.