Cynosure Group LLC Buys 8,909 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Cynosure Group LLC raised its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 161.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,442 shares of the biopharmaceutical company’s stock after purchasing an additional 8,909 shares during the period. Cynosure Group LLC’s holdings in Intra-Cellular Therapies were worth $1,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Avior Wealth Management LLC lifted its position in shares of Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after buying an additional 131 shares during the last quarter. EFG Asset Management North America Corp. raised its stake in Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock worth $2,357,000 after acquiring an additional 163 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 207 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Intra-Cellular Therapies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after purchasing an additional 223 shares in the last quarter. Finally, US Bancorp DE boosted its position in Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after buying an additional 251 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

ITCI has been the topic of several recent research reports. UBS Group cut their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, Morgan Stanley lifted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.23.

Insider Activity

In other news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $86.43 on Wednesday. Intra-Cellular Therapies, Inc. has a 1 year low of $58.14 and a 1 year high of $93.45. The stock has a market capitalization of $9.16 billion, a PE ratio of -99.34 and a beta of 0.97. The company’s 50-day moving average is $79.67 and its 200-day moving average is $75.13.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued 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 return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same period in the previous year, the company earned ($0.25) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Intra-Cellular Therapies 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.