Commerce Bank Cuts Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Commerce Bank lessened its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,643 shares of the biopharmaceutical company’s stock after selling 134 shares during the quarter. Commerce Bank’s holdings in Intra-Cellular Therapies were worth $486,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies during the 2nd quarter worth about $56,000. Capital Performance Advisors LLP acquired a new position in Intra-Cellular Therapies in the third quarter valued at approximately $74,000. CWM LLC increased its stake in Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 626 shares during the last quarter. Covestor Ltd increased its stake in Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 521 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ITCI shares. UBS Group cut their price target on shares of 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 reissued a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.23.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Trading Up 1.7 %

Shares of NASDAQ:ITCI opened at $86.43 on Wednesday. Intra-Cellular Therapies, Inc. has a 12-month low of $58.14 and a 12-month high of $93.45. The firm has a market cap of $9.16 billion, a PE ratio of -99.23 and a beta of 0.97. The company has a fifty day simple moving average of $79.45 and a 200 day simple moving average of $74.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) EPS. As a group, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Intra-Cellular Therapies 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.