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

Oppenheimer Asset Management Inc. increased its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,850 shares of the biopharmaceutical company’s stock after purchasing an additional 3,358 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $2,843,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies during the 1st quarter worth approximately $32,000. Summit Securities Group LLC acquired a new stake in shares of Intra-Cellular Therapies during the second quarter worth approximately $56,000. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies in the third quarter worth $74,000. CWM LLC raised its holdings in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 521 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the company’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 value of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The trade was a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,471 shares of company stock worth $13,670,383. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ITCI has been the subject of several research analyst reports. UBS Group dropped their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley increased their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Down 4.8 %

Intra-Cellular Therapies stock opened at $83.42 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $54.17 and a 52-week high of $93.45. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of -95.88 and a beta of 0.97. The firm has a 50-day moving average price of $78.27 and a two-hundred day moving average price of $74.29.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data 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 return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. The business’s quarterly revenue was up 39.0% on a year-over-year basis. Research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

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.