Venturi Wealth Management LLC Makes New $96,000 Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Venturi Wealth Management LLC purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,150 shares of the biopharmaceutical company’s stock, valued at approximately $96,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates grew its position in Intra-Cellular Therapies by 2.8% in the third quarter. Raymond James & Associates now owns 158,852 shares of the biopharmaceutical company’s stock worth $11,623,000 after acquiring an additional 4,325 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Intra-Cellular Therapies by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 670 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Intra-Cellular Therapies by 185.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock worth $645,000 after purchasing an additional 5,725 shares during the period. abrdn plc raised its holdings in Intra-Cellular Therapies by 7.5% in the 3rd quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock valued at $18,363,000 after buying an additional 17,612 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Intra-Cellular Therapies by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,323 shares of the biopharmaceutical company’s stock valued at $1,487,000 after buying an additional 7,920 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated 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. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Canaccord Genuity Group cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Finally, Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.62.

Intra-Cellular Therapies Stock Up 0.0 %

Shares of Intra-Cellular Therapies stock opened at $128.60 on Monday. Intra-Cellular Therapies, Inc. has a 52 week low of $62.78 and a 52 week high of $128.77. The firm’s 50 day moving average is $110.27 and its two-hundred day moving average is $89.84. The firm has a market capitalization of $13.67 billion, a P/E ratio of -147.81 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. As a group, research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the firm’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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

About Intra-Cellular Therapies

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.