Barclays PLC Increases Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Barclays PLC raised its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 282.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,453 shares of the biopharmaceutical company’s stock after buying an additional 25,435 shares during the quarter. Barclays PLC’s holdings in Intra-Cellular Therapies were worth $2,521,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ITCI. Avior Wealth Management LLC lifted its stake in shares of Intra-Cellular Therapies by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after buying an additional 131 shares during the period. Assetmark Inc. lifted its position in Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 207 shares during the period. State of New Jersey Common Pension Fund D grew its stake in 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 valued at $2,610,000 after purchasing an additional 223 shares during the last quarter. US Bancorp DE increased 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 purchasing an additional 251 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Intra-Cellular Therapies by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 22,057 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 283 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Morgan Stanley increased their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Royal Bank of Canada lifted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $85.24 on Thursday. The business’s 50 day moving average price is $84.05 and its 200-day moving average price is $77.70. Intra-Cellular Therapies, Inc. has a 1 year low of $62.78 and a 1 year high of $93.45. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -97.98 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same quarter last year, the business earned ($0.25) EPS. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % 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.

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.