Patient Square Capital LP Buys New Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Patient Square Capital LP purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 71,990 shares of the biopharmaceutical company’s stock, valued at approximately $6,013,000. Intra-Cellular Therapies makes up 2.2% of Patient Square Capital LP’s portfolio, making the stock its 7th largest holding. Patient Square Capital LP owned 0.07% of Intra-Cellular Therapies at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ITCI. Norges Bank bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $268,347,000. Raymond James Financial Inc. purchased a new position in Intra-Cellular Therapies during the fourth quarter valued at $76,451,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after buying an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Intra-Cellular Therapies by 91.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after buying an additional 402,186 shares in the last quarter. Finally, Deep Track Capital LP grew its position in shares of Intra-Cellular Therapies by 24.9% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $167,040,000 after buying an additional 399,307 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ITCI. Royal Bank of Canada reissued a “sector perform” rating and set a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Needham & Company LLC reissued a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Piper Sandler reissued a “neutral” rating and issued a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Finally, StockNews.com initiated coverage on shares of Intra-Cellular Therapies in a research report on Wednesday, May 7th. They set a “hold” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $109.70.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $131.87 on Wednesday. The stock has a 50 day moving average of $131.74 and a 200 day moving average of $112.79. The company has a market cap of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 12-month low of $64.09 and a 12-month high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). 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 $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

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.