Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Holdings Cut by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lowered its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 34.2% during the first quarter, HoldingsChannel.com reports. The fund owned 3,217 shares of the biopharmaceutical company’s stock after selling 1,670 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Intra-Cellular Therapies were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after acquiring an additional 554,577 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock worth $266,748,000 after acquiring an additional 227,439 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in Intra-Cellular Therapies in the fourth quarter worth about $161,543,000. JPMorgan Chase & Co. increased its stake in shares of Intra-Cellular Therapies by 4.4% in the third quarter. JPMorgan Chase & Co. now owns 2,063,802 shares of the biopharmaceutical company’s stock valued at $107,503,000 after purchasing an additional 86,388 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Intra-Cellular Therapies by 6.7% in the third quarter. Wellington Management Group LLP now owns 1,815,954 shares of the biopharmaceutical company’s stock valued at $94,593,000 after purchasing an additional 114,370 shares during the period. Institutional investors own 92.33% of the company’s stock.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s 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 transaction, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock opened at $69.07 on Thursday. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $84.89. The firm’s 50 day moving average price is $69.07 and its two-hundred day moving average price is $69.11.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. The firm had revenue of $144.90 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 52.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.46) earnings per share. Equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ITCI. Robert W. Baird raised their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. 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 research note on Wednesday, April 17th. Canaccord Genuity Group raised their price target on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. TD Cowen raised their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Needham & Company LLC raised their price target on shares of Intra-Cellular Therapies from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average price target of $94.33.

Intra-Cellular Therapies 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.