B. Metzler seel. Sohn & Co. Holding AG Makes New $2.44 Million Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the third quarter, HoldingsChannel reports. The firm bought 33,291 shares of the biopharmaceutical company’s stock, valued at approximately $2,436,000.

Several other large investors have also modified their holdings of ITCI. Whalen Wealth Management Inc. bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at approximately $219,000. LMR Partners LLP increased its stake in Intra-Cellular Therapies by 96.2% during the third quarter. LMR Partners LLP now owns 31,177 shares of the biopharmaceutical company’s stock valued at $2,281,000 after purchasing an additional 15,288 shares during the last quarter. Swiss National Bank raised its holdings in shares of Intra-Cellular Therapies by 8.1% during the third quarter. Swiss National Bank now owns 185,500 shares of the biopharmaceutical company’s stock worth $13,573,000 after purchasing an additional 13,900 shares during the period. Simplify Asset Management Inc. lifted its position in shares of Intra-Cellular Therapies by 66.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 30,883 shares of the biopharmaceutical company’s stock worth $2,260,000 after buying an additional 12,346 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Intra-Cellular Therapies in the 3rd quarter valued at about $205,000. Institutional investors own 92.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITCI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada raised their target price 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. Finally, The Goldman Sachs Group lowered their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $85.45 on Friday. Intra-Cellular Therapies, Inc. has a 1 year low of $58.14 and a 1 year high of $93.45. The business’s fifty day moving average is $78.84 and its two-hundred day moving average is $74.58. The stock has a market capitalization of $9.06 billion, a P/E ratio of -98.22 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results 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 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 last year, the firm earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 40,513 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $73.58, for a total transaction of $2,980,946.54. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $78,754,807.82. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,778 shares of company stock valued at $7,524,436. 2.60% of the stock is currently owned by corporate insiders.

Intra-Cellular Therapies Company 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.