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

abrdn plc purchased a new stake 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. The fund purchased 58,695 shares of the biopharmaceutical company’s stock, valued at approximately $4,204,000. abrdn plc owned about 0.06% of Intra-Cellular Therapies at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ITCI. Neo Ivy Capital Management acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $45,000. CI Investments Inc. lifted its holdings in shares of Intra-Cellular Therapies by 1,191.6% during the 3rd quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 1,561 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Intra-Cellular Therapies by 95.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,465 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,207 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Intra-Cellular Therapies by 64.9% during the 3rd quarter. Covestor Ltd now owns 2,518 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 991 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Intra-Cellular Therapies by 13.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,946 shares of the biopharmaceutical company’s stock valued at $206,000 after buying an additional 455 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Up 1.6 %

Shares of NASDAQ ITCI opened at $73.26 on Friday. The business’s 50 day moving average is $69.33 and its two-hundred day moving average is $64.85. The company has a market cap of $7.09 billion, a P/E ratio of -50.18 and a beta of 1.02. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results 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 company had revenue of $132.10 million for 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 for the quarter was up 50.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.45) EPS. Sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $120.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday. The Goldman Sachs Group raised their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Mizuho raised their price objective on Intra-Cellular Therapies from $82.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Needham & Company LLC raised their price objective on Intra-Cellular Therapies from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Canaccord Genuity Group raised their price objective on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.17.

Insider Activity

In other news, CEO Sharon Mates sold 40,712 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $69,845,548.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sharon Mates sold 40,712 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $69,845,548.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Suresh K. Durgam sold 6,450 shares of the business’s 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 owns 16,170 shares in the company, valued at $1,076,275.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,487 shares of company stock worth $11,364,950. Company insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Profile

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.