Is Intra-Cellular Therapies (ITCI) Stock a Worthy Buy?

ClearBridge Investments, an investment management company, published its “ClearBridge Small Cap Growth Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark, the Russell 2000 Growth Index, declining about 1%. Overall stock selection and sector allocation drove the strategy to underperform in the quarter. The healthcare sector was the primary performance detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in its Q3 2022 investor letter. Headquartered in Chelmsford, Massachusetts, Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is a sample exploration and management solutions provider for the life science market. On November 23, 2022, Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) stock closed at $51.19 per share. One-month return of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was 11.45%, and its shares gained 17.52% of their value over the last 52 weeks. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has a market capitalization of $4.848 billion.

ClearBridge Investments made the following comment about Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in its Q3 2022 investor letter:

“We made five changes during the quarter. On the buy side, we added Intra-Cellular Therapies, Inc. (NASDAQ:ITCI), a biopharmaceutical company whose FDA approved drug, Caplyta, is used to help treat schizophrenia and bipolar disease. ITCI is pursuing additional indications for the drug in treating major depressive disorder, which would likely increase sales and the long-term value of the company. We believe ITCI has sufficient capital to sustain the investment needed to propel the growth of Caplyta.”

Biopharmaceutical, Bio-technology Copyright: hafakot / 123RF Stock Photo

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) at the end of the third quarter, which was 32 in the previous quarter.

We discussed Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in another article and shared Wasatch Global Investors’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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