Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Sells 22,869 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a filing with the SEC, which is available through this link.

Intra-Cellular Therapies Trading Down 2.1 %

Intra-Cellular Therapies stock traded down $1.81 during mid-day trading on Friday, hitting $85.82. The stock had a trading volume of 48,783 shares, compared to its average volume of 861,443. The firm’s 50 day moving average is $77.77 and its 200 day moving average is $74.12. Intra-Cellular Therapies, Inc. has a one year low of $54.17 and a one year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) EPS. On average, sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds have recently bought and sold shares of ITCI. Vanguard Group Inc. raised its position in shares of Intra-Cellular Therapies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after buying an additional 131,679 shares in the last quarter. Wasatch Advisors LP raised its position in Intra-Cellular Therapies by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after purchasing an additional 130,351 shares during the period. Avoro Capital Advisors LLC raised its position in Intra-Cellular Therapies by 21.2% in the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after purchasing an additional 525,000 shares during the period. Bellevue Group AG raised its position in Intra-Cellular Therapies by 0.6% in the 3rd quarter. Bellevue Group AG now owns 2,485,627 shares of the biopharmaceutical company’s stock worth $181,873,000 after purchasing an additional 14,342 shares during the period. Finally, Clearbridge Investments LLC raised its position in Intra-Cellular Therapies by 12.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock worth $120,723,000 after purchasing an additional 191,416 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Ratings Changes

ITCI has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, 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.