Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Sells $2,038,085.28 in Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Michael Halstead sold 22,869 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through the SEC website.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock opened at $83.42 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $54.17 and a 52-week high of $93.45. The company’s 50 day moving average price is $78.07 and its 200-day moving average price is $74.21. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of -95.88 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue was up 39.0% on a year-over-year basis. During the same period last year, the business earned ($0.25) EPS. As a group, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ITCI shares. UBS Group cut their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley increased their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITCI. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies in the 1st quarter worth approximately $32,000. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies in the third quarter valued at $32,000. Summit Securities Group LLC purchased a new position in Intra-Cellular Therapies during the 2nd quarter valued at $56,000. Capital Performance Advisors LLP bought a new position in Intra-Cellular Therapies in the 3rd quarter worth $74,000. Finally, CWM LLC lifted its position in shares of Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the period. Hedge funds and other institutional investors 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.