Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Sells $2,038,085.28 in Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Michael Halstead sold 22,869 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $83.42 on Friday. The company has a market cap of $8.84 billion, a PE ratio of -95.88 and a beta of 0.97. The firm has a 50-day moving average of $78.27 and a 200-day moving average of $74.29. 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 posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $175.40 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) EPS. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC lifted its holdings in 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 valued at $327,000 after purchasing an additional 131 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake 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 buying an additional 163 shares during the last quarter. Assetmark Inc. grew its stake in Intra-Cellular Therapies by 9.1% in the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 207 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Intra-Cellular Therapies by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock valued at $2,610,000 after acquiring an additional 223 shares during the period. Finally, US Bancorp DE lifted its position in Intra-Cellular Therapies by 3.3% during the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 251 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ITCI shares. 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. Royal Bank of Canada increased 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. UBS Group cut their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

About Intra-Cellular Therapies

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.