Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells 53,013 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sharon Mates also recently made the following trade(s):

• On Friday, August 23rd, Sharon Mates sold 28,680 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $74.46, for a total value of $2,135,512.80.

Intra-Cellular Therapies Price Performance

Shares of ITCI traded up $0.12 during trading hours on Friday, hitting $74.48. The stock had a trading volume of 268,108 shares, compared to its average volume of 973,190. The firm has a 50 day simple moving average of $74.93 and a 200-day simple moving average of $71.07. The firm has a market capitalization of $7.86 billion, a P/E ratio of -64.16 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The company’s quarterly revenue was up 45.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.45) EPS. Equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITCI. Canaccord Genuity Group upped their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Mizuho increased their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Royal Bank of Canada lowered their target price on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group decreased their price target 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Hedge Funds Weigh In On Intra-Cellular Therapies

Hedge funds have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC bought a new stake in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $161,543,000. Norges Bank bought a new stake in shares of Intra-Cellular Therapies in the 4th quarter worth approximately $85,744,000. Perceptive Advisors LLC raised its holdings in shares of Intra-Cellular Therapies by 62.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after purchasing an additional 661,052 shares during the period. Millennium Management LLC raised its holdings in shares of Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after purchasing an additional 606,358 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Intra-Cellular Therapies by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after purchasing an additional 554,577 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.