Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Director Sells 20,000 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the sale, the director now owns 9,690 shares of the company’s stock, valued at $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intra-Cellular Therapies Trading Up 1.4 %

NASDAQ ITCI opened at $76.58 on Monday. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89. The company’s fifty day moving average price is $69.53 and its two-hundred day moving average price is $68.75.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm’s revenue was up 52.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.46) earnings per share. Analysts predict that Intra-Cellular Therapies, Inc. will post -0.51 EPS for the current year.

Institutional Trading of Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently modified their holdings of ITCI. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $32,000. Signaturefd LLC increased its holdings in shares of Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 239 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Intra-Cellular Therapies in the 3rd quarter worth about $45,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Intra-Cellular Therapies in the 1st quarter worth about $53,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ITCI shares. Canaccord Genuity Group boosted their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America boosted their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. 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. Mizuho upped their target price on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group upped their target price on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.67.

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.