Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 49.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,923 shares of the biopharmaceutical company’s stock after selling 24,861 shares during the quarter. BNP Paribas Financial Markets’ holdings in Intra-Cellular Therapies were worth $1,824,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Avoro Capital Advisors LLC boosted its stake in shares of Intra-Cellular Therapies by 21.2% during the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after acquiring an additional 525,000 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Intra-Cellular Therapies by 62.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after purchasing an additional 661,052 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Intra-Cellular Therapies by 11.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,159,356 shares of the biopharmaceutical company’s stock worth $84,830,000 after buying an additional 116,494 shares in the last quarter. Millennium Management LLC raised its position in shares of Intra-Cellular Therapies by 214.5% in the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after buying an additional 606,358 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of Intra-Cellular Therapies by 130.5% during the third quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after buying an additional 353,723 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

ITCI has been the subject of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Morgan Stanley lifted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Intra-Cellular Therapies Trading Up 0.5 %

Intra-Cellular Therapies stock opened at $84.55 on Friday. The stock has a 50 day moving average of $81.34 and a 200-day moving average of $76.15. The stock has a market cap of $8.96 billion, a P/E ratio of -97.18 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a 52 week low of $58.92 and a 52 week high of $93.45.

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