Quantum Private Wealth LLC Grows Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Quantum Private Wealth LLC raised its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 64.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,705 shares of the biopharmaceutical company’s stock after acquiring an additional 9,308 shares during the period. Intra-Cellular Therapies makes up about 0.7% of Quantum Private Wealth LLC’s portfolio, making the stock its 26th biggest position. Quantum Private Wealth LLC’s holdings in Intra-Cellular Therapies were worth $1,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Regal Investment Advisors LLC lifted its stake in Intra-Cellular Therapies by 1.4% during the 3rd quarter. Regal Investment Advisors LLC now owns 13,610 shares of the biopharmaceutical company’s stock valued at $709,000 after acquiring an additional 186 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Intra-Cellular Therapies by 0.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,796 shares of the biopharmaceutical company’s stock valued at $1,396,000 after purchasing an additional 200 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Intra-Cellular Therapies by 13.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 213 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Intra-Cellular Therapies by 4.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,745 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 223 shares in the last quarter. Finally, State of Wyoming increased its holdings in shares of Intra-Cellular Therapies by 57.9% during the 2nd quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 312 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sharon Mates sold 67,917 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $65.19, for a total transaction of $4,427,509.23. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $68,469,643.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intra-Cellular Therapies news, EVP Suresh K. Durgam sold 6,450 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the transaction, the executive vice president now owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 67,917 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $65.19, for a total transaction of $4,427,509.23. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,469,643.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,404 shares of company stock valued at $15,792,460. 3.40% of the stock is currently owned by insiders.

Intra-Cellular Therapies Stock Up 3.0 %

Shares of Intra-Cellular Therapies stock traded up $2.36 during trading hours on Wednesday, reaching $82.20. 886,115 shares of the company’s stock were exchanged, compared to its average volume of 841,442. The business has a fifty day moving average of $68.95 and a two-hundred day moving average of $63.53. The company has a market capitalization of $7.96 billion, a P/E ratio of -55.69 and a beta of 1.02. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company’s revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) EPS. As a group, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ITCI shares. Mizuho lifted their target price on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Intra-Cellular Therapies in a report on Tuesday. Robert W. Baird started coverage on shares of Intra-Cellular Therapies in a report on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.42.

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.