Michael Halstead Sells 22,869 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Intra-Cellular Therapies Price Performance

ITCI stock traded down $0.59 on Thursday, reaching $87.63. 616,256 shares of the company traded hands, compared to its average volume of 865,137. The company has a market cap of $9.29 billion, a P/E ratio of -102.34 and a beta of 0.97. The firm has a fifty day simple moving average of $77.77 and a 200-day simple moving average of $74.12. Intra-Cellular Therapies, Inc. has a one year low of $54.17 and a one year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted 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 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 9.93% and a negative net margin of 14.07%. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) EPS. On average, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group lowered their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Royal Bank of Canada raised their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC lifted its position in Intra-Cellular Therapies by 62.6% during the second 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. Millennium Management LLC lifted its position in Intra-Cellular Therapies by 214.5% during the second 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. Avoro Capital Advisors LLC lifted its position in 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 purchasing an additional 525,000 shares in the last quarter. Marshall Wace LLP purchased a new position in Intra-Cellular Therapies during the second quarter valued at $34,178,000. Finally, Hood River Capital Management LLC purchased a new position in Intra-Cellular Therapies during the second quarter valued at $33,390,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

About Intra-Cellular Therapies

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.