Wealth Enhancement Advisory Services LLC Buys 5,725 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 185.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,810 shares of the biopharmaceutical company’s stock after buying an additional 5,725 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Intra-Cellular Therapies were worth $645,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Intra-Cellular Therapies by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 670 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in Intra-Cellular Therapies during the 3rd quarter valued at about $499,000. Cetera Trust Company N.A raised its holdings in Intra-Cellular Therapies by 24.8% in the third quarter. Cetera Trust Company N.A now owns 2,520 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 500 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Intra-Cellular Therapies by 2.8% in the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock worth $11,623,000 after buying an additional 4,325 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Intra-Cellular Therapies during the third quarter valued at approximately $285,000. 92.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $90.51 on Friday. Intra-Cellular Therapies, Inc. has a 1 year low of $52.88 and a 1 year high of $91.68. The firm has a fifty day moving average price of $76.42 and a 200-day moving average price of $73.65. The company has a market cap of $9.60 billion, a price-to-earnings ratio of -104.03 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS 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 analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.25) EPS. Equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.62 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,316 shares of company stock worth $13,037,345. 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.