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 company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Intra-Cellular Therapies Trading Down 4.8 %

Intra-Cellular Therapies stock opened at $83.42 on Friday. The stock has a 50-day moving average price of $78.07 and a two-hundred day moving average price of $74.21. Intra-Cellular Therapies, Inc. has a 12 month low of $54.17 and a 12 month high of $93.45. The company has a market capitalization of $8.84 billion, a PE ratio of -95.88 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its 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 the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.25) earnings per share. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target 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 dropped their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley raised their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.23.

Institutional Trading of Intra-Cellular Therapies

Several large investors have recently made changes to their positions in the company. Perceptive Advisors LLC increased its stake in Intra-Cellular Therapies by 62.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares in the last quarter. Millennium Management LLC lifted its stake in Intra-Cellular Therapies by 214.5% during the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after acquiring an additional 606,358 shares in the last quarter. Avoro Capital Advisors LLC boosted its holdings in Intra-Cellular Therapies by 21.2% during the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after acquiring an additional 525,000 shares during the last quarter. Marshall Wace LLP bought a new stake in Intra-Cellular Therapies in the 2nd quarter worth about $34,178,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Intra-Cellular Therapies in the 2nd quarter worth approximately $33,390,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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.