Point72 Asset Management L.P. Has $8.77 Million Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Point72 Asset Management L.P. lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 78.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 119,862 shares of the biopharmaceutical company’s stock after selling 434,324 shares during the period. Point72 Asset Management L.P. owned 0.11% of Intra-Cellular Therapies worth $8,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITCI. Wasatch Advisors LP lifted its holdings in shares of Intra-Cellular Therapies by 3.5% in the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock valued at $281,601,000 after purchasing an additional 130,351 shares in the last quarter. Avoro Capital Advisors LLC lifted 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 valued at $205,470,000 after purchasing an additional 525,000 shares in the last quarter. Bellevue Group AG lifted its holdings in Intra-Cellular Therapies by 0.6% during the third quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after acquiring an additional 14,342 shares during the period. Perceptive Advisors LLC lifted its holdings 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 worth $117,557,000 after acquiring an additional 661,052 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Intra-Cellular Therapies by 11.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,159,356 shares of the biopharmaceutical company’s stock worth $84,830,000 after acquiring an additional 116,494 shares during the period. Institutional investors own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

ITCI has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Morgan Stanley lifted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $84.55 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $58.92 and a 52-week high of $93.45. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -97.18 and a beta of 0.95. The business’s fifty day moving average is $81.34 and its 200 day moving average is $76.15.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. Equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction dated 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 can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate 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.