Ensign Peak Advisors Inc Sells 100,000 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Ensign Peak Advisors Inc cut its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 70.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,637 shares of the biopharmaceutical company’s stock after selling 100,000 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Intra-Cellular Therapies were worth $2,852,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in Intra-Cellular Therapies in the first quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new stake in Intra-Cellular Therapies in the first quarter worth about $53,000. Summit Securities Group LLC acquired a new position in shares of Intra-Cellular Therapies during the second quarter valued at about $56,000. Finally, CWM LLC boosted its stake in Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $73.30 on Friday. The stock’s 50 day simple moving average is $75.47 and its 200-day simple moving average is $71.66. The company has a market cap of $7.74 billion, a PE ratio of -63.19 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 quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share 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 company 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 posted ($0.45) EPS. The firm’s revenue for the quarter was up 45.7% on a year-over-year basis. On average, equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITCI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. The Goldman Sachs Group reduced their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group upped their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Royal Bank of Canada decreased their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Moderate Buy” and an average price target of $96.58.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,316 shares of company stock valued at $13,037,345. Corporate insiders own 3.40% 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.