LMR Partners LLP Grows Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

LMR Partners LLP raised its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 96.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,177 shares of the biopharmaceutical company’s stock after purchasing an additional 15,288 shares during the period. LMR Partners LLP’s holdings in Intra-Cellular Therapies were worth $2,281,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ITCI. Perceptive Advisors LLC raised its position in Intra-Cellular Therapies by 62.6% during the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Intra-Cellular Therapies by 214.5% in the second 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. Avoro Capital Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 21.2% in the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after buying an additional 525,000 shares during the period. Marshall Wace LLP purchased a new position in shares of Intra-Cellular Therapies in the second quarter worth about $34,178,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Intra-Cellular Therapies in the second quarter worth about $33,390,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ITCI shares. The Goldman Sachs Group decreased their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lifted their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada raised their target price 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. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Insider Buying and Selling

In other news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 53,013 shares of the business’s 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 sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $80,970,388.85. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,471 shares of company stock valued at $13,670,383 in the last ninety days. 2.60% of the stock is owned by company insiders.

Intra-Cellular Therapies Stock Down 1.1 %

Shares of ITCI opened at $82.47 on Tuesday. The business’s 50 day moving average price is $78.27 and its 200-day moving average price is $74.32. Intra-Cellular Therapies, Inc. has a 52 week low of $56.83 and a 52 week high of $93.45. The stock has a market cap of $8.74 billion, a P/E ratio of -95.89 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.25) EPS. On average, equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS 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.