Quantum Private Wealth LLC Buys 9,308 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Quantum Private Wealth LLC grew its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,705 shares of the biopharmaceutical company's stock after buying an additional 9,308 shares during the period. Intra-Cellular Therapies makes up 0.7% of Quantum Private Wealth LLC's portfolio, making the stock its 26th biggest position. Quantum Private Wealth LLC's holdings in Intra-Cellular Therapies were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Intra-Cellular Therapies by 209.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company's stock worth $8,058,000 after buying an additional 104,700 shares during the last quarter. Phocas Financial Corp. acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth about $1,949,000. Charles Schwab Investment Management Inc. raised its position in shares of Intra-Cellular Therapies by 36.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company's stock worth $50,783,000 after purchasing an additional 259,424 shares during the period. American Century Companies Inc. raised its position in shares of Intra-Cellular Therapies by 5.1% during the third quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company's stock worth $22,993,000 after purchasing an additional 21,604 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Intra-Cellular Therapies by 56.4% during the third quarter. Envestnet Asset Management Inc. now owns 126,532 shares of the biopharmaceutical company's stock worth $6,591,000 after purchasing an additional 45,616 shares during the period. Institutional investors own 92.33% of the company's stock.

Intra-Cellular Therapies Trading Down 3.9 %

Shares of NASDAQ:ITCI traded down $3.15 during trading on Wednesday, hitting $76.69. 2,861,823 shares of the company were exchanged, compared to its average volume of 870,245. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of -52.53 and a beta of 1.02. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The firm has a fifty day moving average price of $69.14 and a two-hundred day moving average price of $63.73.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates 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 business's quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.45) EPS. As a group, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.21, for a total value of $1,341,043.65. Following the transaction, the chief executive officer now directly owns 1,050,309 shares of the company's stock, valued at approximately $68,490,649.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Suresh K. Durgam sold 6,450 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,170 shares in the company, valued at $1,076,275.20. The disclosure for this sale can be found here. Insiders have sold 236,404 shares of company stock valued at $15,792,460 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ITCI has been the topic of a number of research analyst reports. Bank of America raised their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho raised their price target on Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a "neutral" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.17.

Intra-Cellular Therapies Company 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.