Avoro Capital Advisors LLC Purchases 525,000 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Avoro Capital Advisors LLC increased its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000,000 shares of the biopharmaceutical company’s stock after acquiring an additional 525,000 shares during the quarter. Intra-Cellular Therapies comprises 2.7% of Avoro Capital Advisors LLC’s holdings, making the stock its 15th biggest position. Avoro Capital Advisors LLC owned 2.84% of Intra-Cellular Therapies worth $205,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oak Ridge Investments LLC acquired a new position in shares of Intra-Cellular Therapies during the second quarter worth $811,000. Perceptive Advisors LLC acquired a new position in Intra-Cellular Therapies during the 4th quarter valued at about $7,735,000. SG Americas Securities LLC raised its stake in Intra-Cellular Therapies by 962.7% in the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after buying an additional 44,188 shares during the last quarter. Schroder Investment Management Group raised its stake in Intra-Cellular Therapies by 36.7% in the fourth quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after buying an additional 209,331 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after acquiring an additional 191,416 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intra-Cellular Therapies news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 53,013 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,316 shares of company stock worth $13,037,345. Company insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Trading Up 0.8 %

Shares of NASDAQ:ITCI opened at $77.61 on Monday. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $84.89. The business has a 50 day moving average of $75.67 and a two-hundred day moving average of $71.51. The company has a market capitalization of $8.19 billion, a PE ratio of -66.91 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The firm had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The business’s revenue was up 45.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ITCI has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Canaccord Genuity Group raised their price target on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Mizuho lifted their price objective on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Royal Bank of Canada cut their target price on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.58.

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.