Barlow Wealth Partners Inc. Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Barlow Wealth Partners Inc. acquired a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,200 shares of the biopharmaceutical company’s stock, valued at approximately $184,000.

A number of other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in Intra-Cellular Therapies by 282.0% during the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after buying an additional 25,435 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Intra-Cellular Therapies by 31.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after acquiring an additional 109,892 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intra-Cellular Therapies by 3.3% in the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after purchasing an additional 18,865 shares in the last quarter. Oak Ridge Investments LLC increased its position in Intra-Cellular Therapies by 74.1% in the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock worth $1,656,000 after purchasing an additional 8,440 shares during the last quarter. Finally, Cynosure Group LLC increased its position in Intra-Cellular Therapies by 161.0% in the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock worth $1,057,000 after purchasing an additional 8,909 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Activity at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ITCI. Morgan Stanley lifted their price objective 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. Royal Bank of Canada boosted their price objective 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. Needham & Company LLC restated a “hold” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler restated a “neutral” rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $126.50 on Wednesday. The firm has a fifty day moving average price of $89.99 and a 200-day moving average price of $81.30. Intra-Cellular Therapies, Inc. has a 12-month low of $62.78 and a 12-month high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during 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 quarterly revenue was up 39.0% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. On average, sell-side 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.