Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CFO Lawrence J. Hineline Sells 15,663 Shares

Posted by Defense World Staff on Mar 15th, 2023

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) CFO Lawrence J. Hineline sold 15,663 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $43.06, for a total transaction of $674,448.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Lawrence J. Hineline also recently made the following trade(s):

On Monday, March 13th, Lawrence J. Hineline sold 5,582 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $44.93, for a total transaction of $250,799.26.
On Friday, February 24th, Lawrence J. Hineline sold 7,455 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $47.03, for a total transaction of $350,608.65.
On Tuesday, February 21st, Lawrence J. Hineline sold 10,443 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $46.82, for a total transaction of $488,941.26.
On Friday, February 17th, Lawrence J. Hineline sold 53,968 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $49.83, for a total transaction of $2,689,225.44.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $45.31 on Wednesday. The company has a market capitalization of $4.32 billion, a P/E ratio of -16.66 and a beta of 1.13. Intra-Cellular Therapies, Inc. has a one year low of $42.01 and a one year high of $66.00. The stock has a 50 day moving average price of $48.16 and a 200-day moving average price of $49.20.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last posted its earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.17. The firm 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 company’s quarterly revenue was up 242.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.05) EPS. As a group, equities analysts predict that Intra-Cellular Therapies, Inc. will post -2.42 EPS for the current fiscal year.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in Intra-Cellular Therapies by 1.4% in the fourth quarter. Amalgamated Bank now owns 15,036 shares of the biopharmaceutical company’s stock worth $796,000 after buying an additional 213 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in Intra-Cellular Therapies by 4.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,745 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 223 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Intra-Cellular Therapies by 14.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 339 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Intra-Cellular Therapies by 9.1% in the third quarter. Nisa Investment Advisors LLC now owns 4,462 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 371 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Intra-Cellular Therapies by 2.2% in the third quarter. ProShare Advisors LLC now owns 18,025 shares of the biopharmaceutical company’s stock worth $840,000 after purchasing an additional 387 shares during the period. 86.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ITCI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, February 1st. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, March 1st. Royal Bank of Canada dropped their price target on Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. Mizuho dropped their price target on Intra-Cellular Therapies from $72.00 to $66.00 in a research note on Friday, March 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, March 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and a consensus target price of $69.40.

About Intra-Cellular Therapies

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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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