abrdn plc Buys New Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

abrdn plc bought a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,695 shares of the biopharmaceutical company’s stock, valued at approximately $4,204,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ITCI. Handelsbanken Fonder AB boosted its position in shares of Intra-Cellular Therapies by 13.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,400 shares of the biopharmaceutical company’s stock valued at $906,000 after purchasing an additional 2,000 shares in the last quarter. Raymond James & Associates boosted its position in shares of Intra-Cellular Therapies by 4.0% during the 3rd quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock valued at $7,785,000 after purchasing an additional 5,716 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Intra-Cellular Therapies by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 404,329 shares of the biopharmaceutical company’s stock valued at $21,061,000 after purchasing an additional 6,182 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intra-Cellular Therapies by 23.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,764 shares of the biopharmaceutical company’s stock valued at $717,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Strs Ohio raised its stake in Intra-Cellular Therapies by 3.3% during the 3rd quarter. Strs Ohio now owns 27,900 shares of the biopharmaceutical company’s stock worth $1,453,000 after buying an additional 900 shares during the period. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Up 1.6 %

Shares of Intra-Cellular Therapies stock opened at $73.26 on Friday. The company has a market cap of $7.09 billion, a PE ratio of -50.18 and a beta of 1.02. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89. The business has a 50 day moving average price of $69.33 and a 200-day moving average price of $64.85.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.45) earnings per share. As a group, research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ITCI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Robert W. Baird upped their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Canaccord Genuity Group upped their price target on Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Bank of America upped their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Needham & Company LLC upped their price target on Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.17.

Insider Activity at Intra-Cellular Therapies

In related news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the completion of the sale, the director now directly owns 39,662 shares of the company’s stock, valued at $2,723,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.56, for a total value of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at $1,076,275.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is owned by insiders.

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.