Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Director Sells $337,193.34 in Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intra-Cellular Therapies Price Performance

Shares of ITCI opened at $70.98 on Friday. The stock has a 50-day moving average of $69.47 and a 200-day moving average of $68.96. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89. The company has a market cap of $7.49 billion, a PE ratio of -61.19 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. During the same quarter in the previous year, the company posted ($0.46) earnings per share. The company’s quarterly revenue was up 52.0% on a year-over-year basis. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITCI has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. The Goldman Sachs Group increased their price objective on Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. TD Cowen lifted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average price target of $94.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ITCI. Rhumbline Advisers raised its holdings in shares of Intra-Cellular Therapies by 2.1% in the third quarter. Rhumbline Advisers now owns 137,262 shares of the biopharmaceutical company’s stock valued at $7,150,000 after purchasing an additional 2,809 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Intra-Cellular Therapies in the 3rd quarter worth approximately $344,000. Rafferty Asset Management LLC increased its position in shares of Intra-Cellular Therapies by 29.0% during the third quarter. Rafferty Asset Management LLC now owns 6,266 shares of the biopharmaceutical company’s stock valued at $326,000 after acquiring an additional 1,410 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Intra-Cellular Therapies during the third quarter worth $248,000. Finally, Envestnet Asset Management Inc. boosted its position in Intra-Cellular Therapies by 56.4% in the third quarter. Envestnet Asset Management Inc. now owns 126,532 shares of the biopharmaceutical company’s stock worth $6,591,000 after purchasing an additional 45,616 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

Intra-Cellular Therapies Company 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.