Is Intra-Cellular Therapies (ITCI) a Worthy Investment Option?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in its Q3 2022 investor letter. Headquartered in New York, New York, Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is a biopharmaceutical company. On December 19, 2022, Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) stock closed at $50.12 per share. One-month return of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was -5.20%, and its shares gained 3.98% of their value over the last 52 weeks. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) has a market capitalization of $4.747 billion.

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

“Slipping by -18% was Intra-Cellular Therapies, Inc. (NASDAQ:ITCI), which develops small molecule treatments for neurological disorders. The company reported revenues that were better than expected, though earnings were lower. There was an acceleration of sales for Caplyta, a treatment for schizophrenia and bipolar depression. However, some investors appeared concerned that as Caplyta volumes increased to a higher level that the rate of growth will slow. We view the projected growth trajectory positively, as well as Caplyta’s potential for use in other indications, so we added to our position.”

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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.