Cynosure Group LLC Raises Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Cynosure Group LLC increased its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 161.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,442 shares of the biopharmaceutical company’s stock after acquiring an additional 8,909 shares during the quarter. Cynosure Group LLC’s holdings in Intra-Cellular Therapies were worth $1,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Avior Wealth Management LLC raised its stake in Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after acquiring an additional 131 shares in the last quarter. EFG Asset Management North America Corp. grew its position in Intra-Cellular Therapies by 0.5% in the 2nd 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. increased its stake in Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 207 shares during the period. State of New Jersey Common Pension Fund D raised its position 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 buying an additional 223 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after acquiring an additional 251 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $86.43 on Wednesday. The business’s fifty day moving average is $79.67 and its two-hundred day moving average is $75.13. The firm has a market cap of $9.16 billion, a P/E ratio of -99.34 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a 52 week low of $58.14 and a 52 week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly 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 company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) EPS. On average, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. UBS Group cut their target price on shares of 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. Finally, The Goldman Sachs Group lowered their price target on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average price target of $97.23.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

About Intra-Cellular Therapies

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.