Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells 40,513 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sharon Mates sold 40,513 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $73.58, for a total transaction of $2,980,946.54. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at $78,754,807.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sharon Mates also recently made the following trade(s):

• On Friday, August 23rd, Sharon Mates sold 28,680 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $74.46, for a total transaction of $2,135,512.80.
• On Wednesday, August 21st, Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $72.77 on Thursday. The stock has a market capitalization of $7.68 billion, a P/E ratio of -62.73 and a beta of 1.01. The firm’s 50-day moving average is $75.09 and its two-hundred day moving average is $71.18. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The business had revenue of $161.40 million for the quarter, compared to the consensus estimate of $157.74 million. During the same period in the previous year, the firm earned ($0.45) EPS. The business’s revenue was up 45.7% on a year-over-year basis. As a group, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ITCI shares. Royal Bank of Canada dropped their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Mizuho boosted their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Institutional Trading of Intra-Cellular Therapies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new position in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new position in Intra-Cellular Therapies during the 1st quarter worth about $32,000. Signaturefd LLC lifted its stake in Intra-Cellular Therapies by 85.7% during the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 239 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Intra-Cellular Therapies during the 1st quarter valued at about $53,000. Finally, Summit Securities Group LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors 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.