TimesSquare Capital Management LLC Buys 402,186 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

TimesSquare Capital Management LLC grew its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 91.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 840,269 shares of the biopharmaceutical company’s stock after purchasing an additional 402,186 shares during the period. TimesSquare Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $70,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its holdings in Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 131 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Intra-Cellular Therapies by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after buying an additional 141 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Intra-Cellular Therapies by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 150 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake 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 buying an additional 192 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 207 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ITCI. Piper Sandler restated a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, January 13th. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus target price of $103.62.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Performance

NASDAQ:ITCI opened at $127.96 on Wednesday. The stock’s fifty day moving average price is $106.66 and its two-hundred day moving average price is $88.38. Intra-Cellular Therapies, Inc. has a 1 year low of $62.78 and a 1 year high of $128.19.

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.