Wilmington Savings Fund Society FSB Invests $97,000 in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Wilmington Savings Fund Society FSB bought a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,329 shares of the biopharmaceutical company’s stock, valued at approximately $97,000.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies in the 3rd quarter worth about $32,000. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $56,000. Capital Performance Advisors LLP bought a new position in shares of Intra-Cellular Therapies in the third quarter valued at approximately $74,000. Quarry LP increased its position in shares of Intra-Cellular Therapies by 260.0% during the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Intra-Cellular Therapies by 40.4% during the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 521 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ITCI. Royal Bank of Canada upped their price objective 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. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. 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 note on Friday, October 11th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.23.

Insider Buying and Selling

In other news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade 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 insiders.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $83.45 on Friday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $93.45. The stock has a market cap of $8.85 billion, a PE ratio of -95.92 and a beta of 0.95. The stock has a fifty day moving average of $83.64 and a 200-day moving average of $77.34.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its 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 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 analysts’ expectations of $172.30 million. During the same period in the previous year, the firm earned ($0.25) EPS. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. On average, sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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.