Pallas Capital Advisors LLC Sells 1,130 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Pallas Capital Advisors LLC decreased its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 27.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,990 shares of the biopharmaceutical company’s stock after selling 1,130 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Intra-Cellular Therapies were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Intra-Cellular Therapies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after acquiring an additional 131,679 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Intra-Cellular Therapies by 21.2% during the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after purchasing an additional 525,000 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Intra-Cellular Therapies by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares in the last quarter. Perceptive Advisors LLC grew its position 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 valued at $117,557,000 after purchasing an additional 661,052 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Intra-Cellular Therapies by 214.5% during the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after purchasing an additional 606,358 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ITCI shares. UBS Group reduced their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. 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. Royal Bank of Canada boosted their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.62.

Intra-Cellular Therapies Stock Up 2.1 %

Intra-Cellular Therapies stock opened at $86.54 on Friday. The company has a market capitalization of $9.14 billion, a PE ratio of -97.41 and a beta of 1.00. The firm has a fifty day simple moving average of $74.94 and a two-hundred day simple moving average of $73.13. Intra-Cellular Therapies, Inc. has a twelve month low of $50.87 and a twelve month high of $88.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly 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). The business had revenue of $175.40 million during the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 11.09% and a negative net margin of 14.07%. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) earnings per share. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $4,010,433.45. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $80,970,388.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock valued at $13,037,345 over the last three months. Insiders own 2.60% of the company’s stock.

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.