ClearAlpha Technologies LP Invests $332,000 in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

ClearAlpha Technologies LP purchased a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,981 shares of the biopharmaceutical company’s stock, valued at approximately $332,000.

Several other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its position in shares of Intra-Cellular Therapies by 2.2% during the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock valued at $526,000 after buying an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after acquiring an additional 141 shares during the period. CIBC Asset Management Inc raised its position in shares of Intra-Cellular Therapies by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 150 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of Intra-Cellular Therapies by 6.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Intra-Cellular Therapies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 27,565 shares of the biopharmaceutical company’s stock valued at $2,302,000 after purchasing an additional 206 shares during the period. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Price Performance

ITCI opened at $131.87 on Monday. The business has a fifty day simple moving average of $130.76 and a 200-day simple moving average of $106.44. The firm has a market cap of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a fifty-two week low of $64.09 and a fifty-two week high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The company had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. On average, equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITCI. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Piper Sandler reissued a “neutral” rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Mizuho cut shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $140.00 to $132.00 in a research note on Monday, February 24th. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and increased their target price for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $109.70.

About Intra-Cellular Therapies

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.