Algert Global LLC Trims Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Algert Global LLC lowered its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 49.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,340 shares of the biopharmaceutical company’s stock after selling 64,271 shares during the period. Algert Global LLC owned 0.06% of Intra-Cellular Therapies worth $4,544,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new stake in Intra-Cellular Therapies during the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in Intra-Cellular Therapies during the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC bought a new stake in Intra-Cellular Therapies during the first quarter valued at approximately $53,000. Summit Securities Group LLC bought a new stake in Intra-Cellular Therapies during the second quarter valued at approximately $56,000. Finally, CWM LLC lifted its position in Intra-Cellular Therapies by 83.9% during 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. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

ITCI has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.58.

Intra-Cellular Therapies Stock Up 0.1 %

NASDAQ:ITCI opened at $73.30 on Monday. The company has a fifty day moving average of $75.44 and a 200 day moving average of $71.77. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89. The firm has a market capitalization of $7.74 billion, a P/E ratio of -63.19 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company had revenue of $161.40 million during the quarter, compared to analyst estimates of $157.74 million. During the same period in the prior year, the business posted ($0.45) EPS. The firm’s revenue was up 45.7% compared to the same quarter last year. As a group, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sharon Mates sold 53,013 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $80,970,388.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was 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. In the last ninety days, insiders have sold 175,316 shares of company stock valued at $13,037,345. 3.40% of the stock is currently owned by company insiders.

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.