Charles Schwab Investment Management Inc. Sells 16,160 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Charles Schwab Investment Management Inc. lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 904,909 shares of the biopharmaceutical company’s stock after selling 16,160 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Intra-Cellular Therapies were worth $66,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Avoro Capital Advisors LLC grew its stake in shares of Intra-Cellular Therapies by 21.2% during the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after buying an additional 661,052 shares during the last quarter. Millennium Management LLC grew its position in Intra-Cellular Therapies by 214.5% during the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after buying an additional 606,358 shares during the period. Principal Financial Group Inc. increased its holdings in Intra-Cellular Therapies by 3.3% during the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after buying an additional 18,865 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Intra-Cellular Therapies by 48.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 580,359 shares of the biopharmaceutical company’s stock valued at $39,749,000 after buying an additional 190,080 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the 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 can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. UBS Group cut 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. Morgan Stanley raised their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, Royal Bank of Canada increased their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Stock Performance

ITCI opened at $86.59 on Friday. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of -99.53 and a beta of 0.97. The company has a fifty day moving average of $80.10 and a 200 day moving average of $75.29. Intra-Cellular Therapies, Inc. has a fifty-two week low of $58.78 and a fifty-two week high of $93.45.

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

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.