Merit Financial Group LLC Buys New Shares in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Merit Financial Group LLC purchased a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCIFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,465 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avanza Fonder AB acquired a new position in Intra-Cellular Therapies during the 4th quarter worth about $254,000. Park Avenue Securities LLC lifted its position in shares of Intra-Cellular Therapies by 21.3% during the fourth quarter. Park Avenue Securities LLC now owns 6,293 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 1,103 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Intra-Cellular Therapies by 2.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,921 shares of the biopharmaceutical company’s stock valued at $3,000,000 after purchasing an additional 947 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock valued at $748,000 after purchasing an additional 141 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $127.35 on Monday. The firm has a market capitalization of $13.50 billion, a PE ratio of -146.38 and a beta of 0.70. Intra-Cellular Therapies, Inc. has a 52-week low of $62.78 and a 52-week high of $128.00. The firm has a fifty day moving average of $93.20 and a 200 day moving average of $82.82.

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter in the previous year, the business earned ($0.25) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITCI. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Morgan Stanley upped their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Needham & Company LLC reissued a “hold” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.15.

Get Our Latest Research Report on Intra-Cellular Therapies

Insiders Place Their Bets

In related news, CEO Sharon Mates sold 51,000 shares of the business’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 value of $4,375,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Halstead sold 22,869 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

About Intra-Cellular Therapies

(Free Report)

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.

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Institutional Ownership by Quarter for Intra-Cellular Therapies (NASDAQ:ITCI)

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