Point72 Hong Kong Ltd Decreases Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Point72 Hong Kong Ltd reduced its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 85.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,293 shares of the biopharmaceutical company’s stock after selling 38,075 shares during the period. Point72 Hong Kong Ltd’s holdings in Intra-Cellular Therapies were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITCI. Wasatch Advisors LP grew its holdings in Intra-Cellular Therapies by 3.5% during the 3rd 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 boosted its position in Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after buying an additional 525,000 shares during the last quarter. Bellevue Group AG grew its stake in shares of 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 valued at $181,873,000 after acquiring an additional 14,342 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of 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 last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ITCI has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley raised their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. UBS Group decreased their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Up 0.4 %

ITCI stock opened at $86.03 on Tuesday. The company has a 50-day simple moving average of $80.47 and a 200 day simple moving average of $75.69. The company has a market capitalization of $9.12 billion, a P/E ratio of -98.88 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a fifty-two week low of $58.92 and a fifty-two week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $172.30 million. During the same period in the prior year, the company posted ($0.25) earnings per share. The company’s revenue was up 39.0% on a year-over-year basis. Equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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.