Westfield Capital Management Co. LP Increases Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Westfield Capital Management Co. LP grew its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 11.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,159,356 shares of the biopharmaceutical company’s stock after purchasing an additional 116,494 shares during the period. Westfield Capital Management Co. LP’s holdings in Intra-Cellular Therapies were worth $84,830,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ITCI. Summit Securities Group LLC bought a new position in Intra-Cellular Therapies during the 2nd quarter valued at approximately $56,000. Capital Performance Advisors LLP purchased a new stake in shares of Intra-Cellular Therapies in the third quarter worth $74,000. CWM LLC increased its holdings in shares of Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares in the last quarter. Covestor Ltd raised its position in shares of Intra-Cellular Therapies by 40.4% in the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 521 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 207 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITCI has been the subject of a number of analyst reports. UBS Group reduced 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 research note on Thursday, August 8th. Royal Bank of Canada raised their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upped their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target 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. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $85.69 on Friday. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of -98.49 and a beta of 0.97. 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 price is $79.25 and its 200-day moving average price is $74.76.

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). The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm’s revenue was up 39.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.25) EPS. Equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 34,396 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The trade was a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Insiders have sold 97,778 shares of company stock worth $7,524,436 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.