Michael Halstead Sells 22,869 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Stock

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

Intra-Cellular Therapies Trading Down 0.7 %

Shares of NASDAQ:ITCI traded down $0.59 during midday trading on Thursday, hitting $87.63. 616,256 shares of the stock were exchanged, compared to its average volume of 865,137. The stock has a market cap of $9.29 billion, a P/E ratio of -102.34 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a twelve month low of $54.17 and a twelve month high of $93.45. The company has a 50 day moving average price of $77.77 and a 200-day moving average price of $74.12.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) EPS. On average, equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Institutional Trading of Intra-Cellular Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC grew its holdings in shares of Intra-Cellular Therapies by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 131 shares during the period. EFG Asset Management North America Corp. grew its holdings in shares of Intra-Cellular Therapies by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock worth $2,357,000 after purchasing an additional 163 shares during the period. Assetmark Inc. grew its holdings in shares of Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 207 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of Intra-Cellular Therapies by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after purchasing an additional 223 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Intra-Cellular Therapies by 3.3% during the 3rd quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock worth $582,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ITCI. The Goldman Sachs Group dropped their target price on 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. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and a consensus target price 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.