Public Employees Retirement Association of Colorado Cuts Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,057 shares of the biopharmaceutical company’s stock after selling 304 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Intra-Cellular Therapies were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new stake in Intra-Cellular Therapies in the fourth quarter worth about $26,000. Headlands Technologies LLC purchased a new position in Intra-Cellular Therapies in the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC bought a new position in Intra-Cellular Therapies during the first quarter valued at $53,000. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies in the second quarter worth $56,000. Finally, CWM LLC increased its position in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 626 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,316 shares of company stock valued at $13,037,345. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITCI. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Canaccord Genuity Group lifted their target price 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, June 20th. Royal Bank of Canada dropped their price target on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.58.

Intra-Cellular Therapies Stock Down 1.5 %

NASDAQ:ITCI opened at $74.37 on Thursday. Intra-Cellular Therapies, Inc. has a twelve month low of $45.50 and a twelve month high of $84.89. The stock has a market cap of $7.86 billion, a P/E ratio of -64.11 and a beta of 1.00. The business’s 50-day moving average price is $75.51 and its two-hundred day moving average price is $71.65.

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 the consensus estimate of ($0.19) by $0.03. The business had revenue of $161.40 million during the quarter, compared to analyst estimates of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.45) earnings per share. On average, equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal 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.