Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 64,024 shares of the biopharmaceutical company’s stock after purchasing an additional 2,134 shares during the quarter. Truist Financial Corp’s holdings in Intra-Cellular Therapies were worth $4,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ITCI. Bailard Inc. increased its stake in shares of Intra-Cellular Therapies by 1.2% in the fourth quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 200 shares during the period. New York State Common Retirement Fund increased its stake in shares of Intra-Cellular Therapies by 9.6% in the fourth quarter. New York State Common Retirement Fund now owns 57,572 shares of the biopharmaceutical company’s stock worth $4,123,000 after acquiring an additional 5,023 shares during the period. California Public Employees Retirement System increased its stake in shares of Intra-Cellular Therapies by 14.2% in the fourth quarter. California Public Employees Retirement System now owns 160,376 shares of the biopharmaceutical company’s stock worth $11,486,000 after acquiring an additional 19,936 shares during the period. Shikiar Asset Management Inc. acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $251,000. Finally, Handelsbanken Fonder AB increased its stake in shares of Intra-Cellular Therapies by 6.3% in the fourth quarter. Handelsbanken Fonder AB now owns 18,500 shares of the biopharmaceutical company’s stock worth $1,325,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Down 2.2 %

ITCI opened at $68.80 on Monday. The company has a market cap of $6.66 billion, a price-to-earnings ratio of -47.12 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a 52-week low of $45.50 and a 52-week high of $84.89. The firm’s fifty day simple moving average is $69.16 and its two-hundred day simple moving average is $65.56.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. 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 earned ($0.45) earnings per share. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

ITCI has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Needham & Company LLC increased their price target on shares of Intra-Cellular Therapies from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. The Goldman Sachs Group increased their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Bank of America increased their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.17.

Insider Activity

In other news, EVP Michael Halstead sold 7,907 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,065,041. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Suresh K. Durgam sold 6,450 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total value of $429,312.00. Following the completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the sale, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders sold 168,487 shares of company stock worth $11,364,950 over the last three months. 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.