Ensign Peak Advisors Inc lessened its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) by 80.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,340 shares of the biopharmaceutical company’s stock after selling 101,153 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Intra-Cellular Therapies were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of ITCI. Wellington Management Group LLP purchased a new position in shares of Intra-Cellular Therapies in the 1st quarter worth about $248,502,000. Vanguard Group Inc. raised its position in shares of Intra-Cellular Therapies by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 7,788,469 shares of the biopharmaceutical company’s stock worth $476,577,000 after purchasing an additional 912,268 shares during the last quarter. BlackRock Inc. raised its position in shares of Intra-Cellular Therapies by 13.1% in the 1st quarter. BlackRock Inc. now owns 6,470,417 shares of the biopharmaceutical company’s stock worth $395,924,000 after purchasing an additional 748,651 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth about $30,514,000. Finally, Invesco Ltd. raised its position in Intra-Cellular Therapies by 1,374.7% in the 1st quarter. Invesco Ltd. now owns 478,385 shares of the biopharmaceutical company’s stock worth $29,272,000 after buying an additional 445,945 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.
Insider Activity at Intra-Cellular Therapies
In related news, CEO Sharon Mates sold 33,083 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $55.00, for a total transaction of $1,819,565.00. Following the completion of the transaction, the chief executive officer now directly owns 1,100,309 shares in the company, valued at approximately $60,516,995. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intra-Cellular Therapies news, SVP Suresh K. Durgam sold 8,354 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $46.84, for a total value of $391,301.36. Following the completion of the transaction, the senior vice president now directly owns 23,104 shares in the company, valued at approximately $1,082,191.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sharon Mates sold 33,083 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $55.00, for a total value of $1,819,565.00. Following the completion of the transaction, the chief executive officer now owns 1,100,309 shares of the company’s stock, valued at $60,516,995. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,832 shares of company stock worth $9,468,975. 3.70% of the stock is owned by company insiders.
Intra-Cellular Therapies Trading Down 0.5 %
Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.17. The company had revenue of $87.87 million during the quarter, compared to the consensus estimate of $86.97 million. Intra-Cellular Therapies had a negative return on equity of 35.88% and a negative net margin of 102.37%. The firm’s revenue was up 242.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.05) EPS. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -2.42 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have weighed in on ITCI. JPMorgan Chase & Co. decreased their target price on Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada decreased their target price on Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, March 1st. Mizuho decreased their target price on Intra-Cellular Therapies from $72.00 to $66.00 in a research report on Friday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $83.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, February 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.40.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.
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