Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Purchased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC boosted its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 22.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,067 shares of the biopharmaceutical company’s stock after acquiring an additional 4,517 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Intra-Cellular Therapies were worth $1,834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ITCI. True Wealth Design LLC purchased a new position in Intra-Cellular Therapies during the 3rd quarter valued at about $32,000. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter valued at about $56,000. Capital Performance Advisors LLP purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $74,000. CWM LLC boosted its stake in shares of Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 626 shares during the period. Finally, Quarry LP boosted its stake in shares of Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $85.65 on Friday. Intra-Cellular Therapies, Inc. has a one year low of $58.92 and a one year high of $93.45. The company has a 50-day simple moving average of $80.27 and a 200-day simple moving average of $75.42. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of -98.45 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same period in the previous year, the business posted ($0.25) earnings per share. The firm’s revenue was up 39.0% compared to the same quarter last year. As a group, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITCI has been the subject of several recent research reports. 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. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Morgan Stanley lifted their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.23.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

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.