Los Angeles Capital Management LLC Sells 6,045 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Los Angeles Capital Management LLC trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 37.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,979 shares of the biopharmaceutical company’s stock after selling 6,045 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $161,543,000. Norges Bank acquired a new stake in Intra-Cellular Therapies during the 4th quarter worth $85,744,000. Vanguard Group Inc. grew its holdings in Intra-Cellular Therapies by 6.5% during the 4th 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 period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at $18,379,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies in the 1st quarter valued at $15,985,000. 92.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ITCI shares. UBS Group cut their target price on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Cantor Fitzgerald boosted their price objective on shares of Intra-Cellular Therapies from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Canaccord Genuity Group increased their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $92.00 in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.58.

Insider Activity

In related news, CEO Sharon Mates sold 53,013 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $80,970,388.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the firm’s 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 completion of the transaction, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The disclosure for this sale can be found here. Insiders have sold 199,778 shares of company stock worth $14,892,738 over the last ninety days. Insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Trading Up 0.2 %

Shares of NASDAQ ITCI opened at $75.38 on Friday. The company has a fifty day moving average price of $75.66 and a 200 day moving average price of $71.25. The firm has a market cap of $7.97 billion, a PE ratio of -64.98 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its 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 return on equity of 11.48% and a negative net margin of 14.93%. The business had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same quarter last year, the firm earned ($0.45) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% compared to the same quarter last year. Equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

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.