Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,434 shares of the biopharmaceutical company’s stock after purchasing an additional 1,584 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $3,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Intra-Cellular Therapies by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock valued at $280,000 after acquiring an additional 670 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Intra-Cellular Therapies by 185.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock worth $645,000 after acquiring an additional 5,725 shares during the period. US Bancorp DE boosted its holdings in shares of Intra-Cellular Therapies by 3.3% in the 3rd quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after purchasing an additional 251 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in Intra-Cellular Therapies by 6.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 334,673 shares of the biopharmaceutical company’s stock valued at $24,488,000 after acquiring an additional 20,622 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Intra-Cellular Therapies by 144.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,974 shares of the biopharmaceutical company’s stock valued at $2,559,000 after purchasing an additional 20,676 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ITCI. Piper Sandler reissued a “neutral” rating and issued a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. StockNews.com began coverage on shares of Intra-Cellular Therapies in a report on Monday, February 24th. They issued a “hold” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Finally, Canaccord Genuity Group lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price objective for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $128.20 on Friday. Intra-Cellular Therapies, Inc. has a 1 year low of $63.30 and a 1 year high of $129.00. The stock has a fifty day moving average price of $114.58 and a two-hundred day moving average price of $91.50. The firm has a market cap of $13.63 billion, a P/E ratio of -147.35 and a beta of 0.72.

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

Insider Buying and Selling

In related news, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

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.