Strs Ohio cut its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,300 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the period. Strs Ohio’s holdings in Intra-Cellular Therapies were worth $1,883,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of ITCI. Lazard Asset Management LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter worth approximately $51,000. State of Wyoming lifted its stake in shares of Intra-Cellular Therapies by 57.9% in the second quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 312 shares during the period. Neo Ivy Capital Management bought a new stake in Intra-Cellular Therapies in the third quarter valued at approximately $45,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Intra-Cellular Therapies during the 4th quarter valued at approximately $47,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $101.00 price objective on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. The Goldman Sachs Group upped their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday. TD Cowen increased their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America boosted their price objective on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group decreased their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.17.
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Intra-Cellular Therapies Stock Performance
Shares of NASDAQ:ITCI opened at $72.37 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $45.50 and a 52-week high of $84.89. The business’s 50 day simple moving average is $69.31 and its two-hundred day simple moving average is $64.10. The firm has a market cap of $7.01 billion, a P/E ratio of -49.57 and a beta of 1.02.
Intra-Cellular Therapies (NASDAQ:ITCI – Get Free Report) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $135.97 million. During the same period in the prior year, the firm earned ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 50.3% on a year-over-year basis. On average, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.69 earnings per share for the current fiscal year.
Insider Buying and Selling at Intra-Cellular Therapies
In other news, EVP Michael Halstead sold 7,907 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the completion of the sale, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at $2,065,041. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sharon Mates sold 40,712 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $66.50, for a total value of $2,707,348.00. Following the completion of the sale, the chief executive officer now directly owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,065,041. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,487 shares of company stock valued at $11,364,950. Corporate insiders own 3.40% of the company’s stock.
Intra-Cellular Therapies 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.
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