Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells $4,375,800.00 in Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Intra-Cellular Therapies Trading Up 0.5 %

NASDAQ:ITCI traded up $0.46 during midday trading on Friday, hitting $84.55. 274,178 shares of the stock were exchanged, compared to its average volume of 837,606. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of -96.65 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a one year low of $58.92 and a one year high of $93.45. The business has a 50-day moving average price of $81.11 and a two-hundred day moving average price of $75.96.

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

Institutional Investors Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently bought and sold shares of ITCI. Tidal Investments LLC grew its stake in shares of Intra-Cellular Therapies by 13.9% in the 1st quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 450 shares during the last quarter. CWM LLC boosted its holdings in Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares in the last quarter. SG Americas Securities LLC grew its position in Intra-Cellular Therapies by 962.7% in the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock worth $3,341,000 after buying an additional 44,188 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in Intra-Cellular Therapies in the second quarter worth approximately $811,000. Finally, AlphaMark Advisors LLC bought a new position in shares of Intra-Cellular Therapies in the second quarter valued at $289,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITCI. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $92.00 in a report on Friday, September 6th. UBS Group lowered their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley raised their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

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.