Whalen Wealth Management Inc. Buys Shares of 2,996 Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Whalen Wealth Management Inc. bought a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,996 shares of the biopharmaceutical company’s stock, valued at approximately $219,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Intra-Cellular Therapies by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock worth $638,438,000 after buying an additional 131,679 shares during the last quarter. Avoro Capital Advisors LLC boosted its stake in Intra-Cellular Therapies by 21.2% in the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after acquiring an additional 525,000 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after purchasing an additional 191,416 shares during 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 purchasing an additional 661,052 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Intra-Cellular Therapies by 214.5% during 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. 92.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group dropped their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of 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, Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their price target 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 given a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $82.47 on Tuesday. The firm has a fifty day moving average price of $78.27 and a 200 day moving average price of $74.32. Intra-Cellular Therapies, Inc. has a 1 year low of $56.83 and a 1 year high of $93.45.

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 the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) earnings per share. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other news, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 53,013 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. This trade represents a 4.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,471 shares of company stock worth $13,670,383. 2.60% of the stock is owned by corporate insiders.

About Intra-Cellular Therapies

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.