Mackenzie Financial Corp Purchases New Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Mackenzie Financial Corp acquired a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,037 shares of the biopharmaceutical company’s stock, valued at approximately $289,000.

Other hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth about $45,000. CI Investments Inc. grew its stake in Intra-Cellular Therapies by 1,191.6% during the third quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 1,561 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Intra-Cellular Therapies by 95.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,465 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,207 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Intra-Cellular Therapies by 64.9% in the 3rd quarter. Covestor Ltd now owns 2,518 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 991 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Intra-Cellular Therapies by 13.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,946 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 455 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ITCI. Canaccord Genuity Group upped their price target on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Robert W. Baird raised their price target on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $120.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday. The Goldman Sachs Group raised their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, TD Cowen upped their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and an average target price of $90.17.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $73.26 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $45.50 and a 52-week high of $84.89. The company has a 50-day simple moving average of $69.33 and a 200 day simple moving average of $64.85. The company has a market capitalization of $7.09 billion, a P/E ratio of -50.18 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company 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 revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.45) earnings per share. As a group, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In other news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction 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 sale, the director now directly owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intra-Cellular Therapies news, Director Joel S. Marcus sold 26,328 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total value of $1,808,207.04. Following the sale, the director now owns 39,662 shares of the company’s stock, valued at approximately $2,723,986.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lawrence J. Hineline sold 13,337 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.43, for a total value of $925,987.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,487 shares of company stock worth $11,364,950. Company insiders own 3.40% 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.