Envestnet Asset Management Inc. Sells 2,605 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Envestnet Asset Management Inc. decreased its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 126,459 shares of the biopharmaceutical company’s stock after selling 2,605 shares during the period. Envestnet Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $8,661,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

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

Intra-Cellular Therapies Stock Up 0.1 %

NASDAQ ITCI opened at $73.30 on Friday. Intra-Cellular Therapies, Inc. has a twelve month low of $45.50 and a twelve month high of $84.89. The business has a 50-day moving average price of $75.47 and a 200-day moving average price of $71.66. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -63.19 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. The company 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 quarterly revenue was up 45.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.45) earnings per share. Research analysts expect that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ITCI shares. JPMorgan Chase & Co. increased their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. The Goldman Sachs Group reduced their price objective on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. UBS Group dropped their target price on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group lifted 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 report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and ten have issued 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 target price of $96.58.

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.