Tocqueville Asset Management L.P. Has $443,000 Position in Intra-Cellular Therapies Inc (ITCI)
Tocqueville Asset Management L.P. boosted its stake in shares of Intra-Cellular Therapies Inc (NASDAQ:ITCI) by 42.7% in the second quarter, HoldingsChannel.com reports. The firm owned 25,060 shares of the biopharmaceutical company’s stock after purchasing an additional 7,500 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Intra-Cellular Therapies were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new position in Intra-Cellular Therapies during the 2nd quarter valued at approximately $167,000. Atlantic Trust Group LLC acquired a new position in Intra-Cellular Therapies during the 1st quarter valued at approximately $215,000. D.A. Davidson & CO. acquired a new position in Intra-Cellular Therapies during the 1st quarter valued at approximately $363,000. MetLife Investment Advisors LLC boosted its position in Intra-Cellular Therapies by 15.4% during the 1st quarter. MetLife Investment Advisors LLC now owns 19,606 shares of the biopharmaceutical company’s stock valued at $413,000 after purchasing an additional 2,613 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Intra-Cellular Therapies by 19.9% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,462 shares of the biopharmaceutical company’s stock valued at $362,000 after purchasing an additional 3,400 shares during the period. Institutional investors and hedge funds own 71.54% of the company’s stock.
Shares of ITCI stock opened at $21.38 on Thursday. Intra-Cellular Therapies Inc has a 1 year low of $13.93 and a 1 year high of $25.82. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -10.08 and a beta of 0.84.
A number of research analysts have issued reports on ITCI shares. Canaccord Genuity set a $31.00 price target on Intra-Cellular Therapies and gave the stock a “buy” rating in a research report on Wednesday, June 6th. BidaskClub lowered Intra-Cellular Therapies from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. ValuEngine upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $35.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, August 3rd. Finally, Cantor Fitzgerald started coverage on Intra-Cellular Therapies in a research report on Thursday, August 23rd. They set an “overweight” rating and a $32.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.00.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.
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