Merit Financial Group LLC Invests $206,000 in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Merit Financial Group LLC purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,465 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in shares of Intra-Cellular Therapies by 3.0% during the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 131 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Intra-Cellular Therapies by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after acquiring an additional 141 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Intra-Cellular Therapies by 6.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 192 shares during the period. Assetmark Inc. grew its position in 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 acquiring an additional 207 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Intra-Cellular Therapies by 0.6% in the third 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 during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Transactions at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This trade represents a 4.55 % 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 Trading Up 0.2 %

Shares of ITCI stock opened at $127.35 on Monday. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of -146.38 and a beta of 0.70. The firm has a 50-day moving average price of $93.20 and a 200 day moving average price of $82.82. Intra-Cellular Therapies, Inc. has a twelve month low of $62.78 and a twelve month high of $128.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period last year, the company posted ($0.25) EPS. As a group, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reaffirmed a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Morgan Stanley increased their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. StockNews.com began coverage on Intra-Cellular Therapies in a report on Thursday. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.15.

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.