Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is Suvretta Capital Management LLC’s 4th Largest Position

Suvretta Capital Management LLC decreased its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 8.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,439,026 shares of the biopharmaceutical company’s stock after selling 126,970 shares during the quarter. Intra-Cellular Therapies comprises 3.4% of Suvretta Capital Management LLC’s holdings, making the stock its 4th largest position. Suvretta Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $105,294,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITCI. CANADA LIFE ASSURANCE Co grew its stake in shares of Intra-Cellular Therapies by 106.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,023 shares of the biopharmaceutical company’s stock valued at $1,178,000 after buying an additional 8,760 shares during the period. Tidal Investments LLC lifted its holdings in Intra-Cellular Therapies by 13.9% in the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 450 shares during the last quarter. First Hawaiian Bank grew its position in Intra-Cellular Therapies by 8.3% in the second quarter. First Hawaiian Bank now owns 6,466 shares of the biopharmaceutical company’s stock worth $443,000 after acquiring an additional 493 shares during the period. DNB Asset Management AS increased its stake in Intra-Cellular Therapies by 20.1% during the second quarter. DNB Asset Management AS now owns 80,155 shares of the biopharmaceutical company’s stock worth $5,484,000 after acquiring an additional 13,402 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Intra-Cellular Therapies in the second quarter valued at $979,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ITCI shares. Royal Bank of Canada increased their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. UBS Group dropped their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley upped their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group dropped their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.23.

Insider Transactions at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI opened at $86.59 on Friday. The stock’s 50-day moving average is $80.10 and its two-hundred day moving average is $75.29. Intra-Cellular Therapies, Inc. has a 1-year low of $58.78 and a 1-year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The firm had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the business earned ($0.25) EPS. The firm’s revenue was up 39.0% compared to the same quarter last year. Sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

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.