Oak Ridge Investments LLC Has $1.66 Million Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Oak Ridge Investments LLC lifted its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 74.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,831 shares of the biopharmaceutical company’s stock after purchasing an additional 8,440 shares during the quarter. Oak Ridge Investments LLC’s holdings in Intra-Cellular Therapies were worth $1,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITCI. Perceptive Advisors LLC raised its stake in shares of Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after buying an additional 661,052 shares in the last quarter. Millennium Management LLC lifted its stake in Intra-Cellular Therapies by 214.5% during the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after purchasing an additional 606,358 shares during the period. Avoro Capital Advisors LLC boosted its holdings in Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Intra-Cellular Therapies in the 2nd quarter valued at approximately $34,178,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $33,390,000. 92.33% of the stock is owned by institutional investors.

Intra-Cellular Therapies Stock Down 0.0 %

Shares of ITCI opened at $126.20 on Friday. The stock’s fifty day simple moving average is $89.30 and its 200-day simple moving average is $80.81. 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 issued its earnings results 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). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. During the same period last year, the business posted ($0.25) EPS. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. As a group, sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

ITCI has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a report on Tuesday, January 14th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.31.

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.