Westfield Capital Management Co. LP Buys 116,494 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Westfield Capital Management Co. LP boosted its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,159,356 shares of the biopharmaceutical company’s stock after acquiring an additional 116,494 shares during the period. Westfield Capital Management Co. LP owned 1.09% of Intra-Cellular Therapies worth $84,830,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC raised its holdings in shares of Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after purchasing an additional 525,000 shares during the period. Perceptive Advisors LLC increased its position in Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after buying an additional 661,052 shares during the last quarter. Millennium Management LLC lifted its position in shares of Intra-Cellular Therapies by 214.5% during the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after buying an additional 606,358 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Intra-Cellular Therapies by 130.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after buying an additional 353,723 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Intra-Cellular Therapies by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock worth $43,735,000 after acquiring an additional 18,865 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,778 shares of company stock worth $7,524,436 over the last three months. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $85.69 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $58.14 and a 52-week high of $93.45. The stock has a fifty day moving average of $79.25 and a 200 day moving average of $74.76. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of -98.49 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $172.30 million. During the same quarter last year, the business posted ($0.25) EPS. The business’s revenue was up 39.0% compared to the same quarter last year. Equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group lowered their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $92.00 in a research report on Friday, September 6th. The Goldman Sachs Group cut their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

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.