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 Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Intra-Cellular Therapies Stock Performance

ITCI opened at $71.09 on Thursday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89. The firm’s fifty day moving average is $69.49 and its 200 day moving average is $68.95. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of -61.28 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on ITCI. TD Cowen lifted their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird lifted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Bank of America lifted their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Mizuho lifted their target price on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $103.00 target price on shares of Intra-Cellular Therapies in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average target price of $94.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Farallon Capital Management LLC purchased a new position in shares of Intra-Cellular Therapies during the 1st quarter valued at $15,985,000. Tidal Investments LLC lifted its stake in Intra-Cellular Therapies by 13.9% in the 1st quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 450 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Intra-Cellular Therapies by 9.7% in the 1st quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock worth $171,270,000 after purchasing an additional 219,445 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in Intra-Cellular Therapies in the 1st quarter worth $3,460,000. Finally, EntryPoint Capital LLC lifted its stake in Intra-Cellular Therapies by 138.7% in the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,259 shares in the last quarter. 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.