Whalen Wealth Management Inc. Makes New Investment in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Whalen Wealth Management Inc. acquired a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,996 shares of the biopharmaceutical company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Intra-Cellular Therapies in the 2nd quarter worth $56,000. Capital Performance Advisors LLP purchased a new stake in Intra-Cellular Therapies in the third quarter worth about $74,000. CWM LLC boosted its position in Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares in the last quarter. Covestor Ltd boosted its position in Intra-Cellular Therapies by 40.4% during the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 521 shares in the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Intra-Cellular Therapies by 138.7% in the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,259 shares in the last quarter. 92.33% of the stock is owned by institutional investors.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 28,680 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.46, for a total transaction of $2,135,512.80. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $79,696,697.34. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,471 shares of company stock worth $13,670,383. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ITCI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. UBS Group lowered their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group dropped their price objective 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Trading Down 1.1 %

Shares of NASDAQ:ITCI opened at $82.47 on Tuesday. Intra-Cellular Therapies, Inc. has a 12 month low of $56.83 and a 12 month high of $93.45. The firm’s 50-day moving average is $78.27 and its 200 day moving average is $74.32.

Intra-Cellular Therapies (NASDAQ:ITCI) last released 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 net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same period in the prior year, the company posted ($0.25) EPS. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. Sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

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.