215,439 Shares in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC bought a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 215,439 shares of the biopharmaceutical company’s stock, valued at approximately $14,755,000. Driehaus Capital Management LLC owned 0.20% of Intra-Cellular Therapies at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $1,172,000. Scientech Research LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth $2,416,000. Millennium Management LLC raised its position in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after buying an additional 606,358 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Intra-Cellular Therapies by 48.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 580,359 shares of the biopharmaceutical company’s stock worth $39,749,000 after buying an additional 190,080 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Intra-Cellular Therapies by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 105,431 shares of the biopharmaceutical company’s stock worth $7,221,000 after buying an additional 26,486 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $73.30 on Friday. The business has a 50-day moving average of $75.44 and a 200-day moving average of $71.72. The company has a market capitalization of $7.74 billion, a PE ratio of -63.19 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89.

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

Insider Transactions at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was 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 approximately $2,229,876. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,316 shares of company stock valued at $13,037,345. Insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $92.00 in a report on Friday, September 6th. Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Mizuho increased their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 21st. Finally, Royal Bank of Canada lowered their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.58.

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.