Intra-Cellular Therapies (NASDAQ:ITCI) Trading Down 2.7%

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares traded down 2.7% during mid-day trading on Wednesday . The company traded as low as $76.50 and last traded at $77.66. 193,291 shares changed hands during trading, a decline of 77% from the average session volume of 833,862 shares. The stock had previously closed at $79.84.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research report on Tuesday. Robert W. Baird boosted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. Finally, Bank of America raised their price target on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.17.

Intra-Cellular Therapies Stock Down 6.1 %

The company has a fifty day moving average of $69.31 and a two-hundred day moving average of $63.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $135.97 million. During the same period in the previous year, the business earned ($0.45) EPS. The business’s quarterly revenue was up 50.3% on a year-over-year basis. On average, equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Halstead sold 7,907 shares of Intra-Cellular Therapies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Michael Halstead sold 7,907 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,065,041. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sharon Mates sold 40,712 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total value of $2,707,348.00. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at approximately $69,845,548.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,487 shares of company stock valued at $11,364,950. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Large investors have recently made changes to their positions in the company. Quantum Private Wealth LLC raised its holdings in shares of Intra-Cellular Therapies by 64.7% in the 4th quarter. Quantum Private Wealth LLC now owns 23,705 shares of the biopharmaceutical company’s stock worth $1,698,000 after purchasing an additional 9,308 shares in the last quarter. HealthInvest Partners AB acquired a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $877,000. Phocas Financial Corp. purchased a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at $1,949,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Intra-Cellular Therapies by 209.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after buying an additional 104,700 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Intra-Cellular Therapies by 36.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock worth $50,783,000 after acquiring an additional 259,424 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.