Lord Abbett & CO. LLC Has $46.01 Million Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Lord Abbett & CO. LLC lowered its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 628,839 shares of the biopharmaceutical company’s stock after selling 4,619 shares during the period. Lord Abbett & CO. LLC owned approximately 0.59% of Intra-Cellular Therapies worth $46,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ITCI. Perceptive Advisors LLC lifted its stake in Intra-Cellular Therapies by 62.6% in the 2nd 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 in the last quarter. Millennium Management LLC lifted its position in shares of Intra-Cellular Therapies by 214.5% in the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after purchasing an additional 606,358 shares in the last quarter. Avoro Capital Advisors LLC boosted its holdings in shares of Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after purchasing an additional 525,000 shares during the period. Marshall Wace LLP acquired a new stake in shares of Intra-Cellular Therapies during the second quarter worth approximately $34,178,000. Finally, Hood River Capital Management LLC purchased a new position in Intra-Cellular Therapies during the second quarter valued at approximately $33,390,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Insider Buying and Selling

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ITCI has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Down 0.4 %

NASDAQ:ITCI opened at $83.03 on Friday. The company’s 50 day moving average is $82.44 and its 200-day moving average is $76.77. Intra-Cellular Therapies, Inc. has a 12 month low of $62.78 and a 12 month high of $93.45. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of -95.44 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same quarter last year, the business earned ($0.25) EPS. The business’s revenue was up 39.0% compared to the same quarter last year. Research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal 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.