Insider Selling: Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells 20,565 Shares of Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) CEO Sharon Mates sold 20,565 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $44.99, for a total transaction of $925,219.35. Following the completion of the transaction, the chief executive officer now owns 1,130,309 shares in the company, valued at $50,852,601.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sharon Mates also recently made the following trade(s):

• On Friday, March 10th, Sharon Mates sold 41,770 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $43.15, for a total transaction of $1,802,375.50.
• On Friday, February 24th, Sharon Mates sold 22,590 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $47.03, for a total transaction of $1,062,407.70.
• On Tuesday, February 21st, Sharon Mates sold 27,848 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $46.83, for a total transaction of $1,304,121.84.

Intra-Cellular Therapies Stock Up 0.4 %

Shares of Intra-Cellular Therapies stock opened at $45.31 on Wednesday. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -16.66 and a beta of 1.13. Intra-Cellular Therapies, Inc. has a 12-month low of $42.01 and a 12-month high of $66.00. The firm’s 50-day moving average price is $48.16 and its two-hundred day moving average price is $49.20.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.17. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.97 million. Intra-Cellular Therapies had a negative net margin of 102.37% and a negative return on equity of 35.88%. The business’s revenue for the quarter was up 242.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.05) earnings per share. On average, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. Mizuho decreased their price target on shares of Intra-Cellular Therapies from $72.00 to $66.00 in a research note on Friday, March 3rd. Needham & Company LLC restated a “buy” rating and issued a $70.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, March 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $83.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, February 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, March 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ITCI. JPMorgan Chase & Co. lifted its holdings in shares of Intra-Cellular Therapies by 11.7% in the first quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock worth $9,615,000 after acquiring an additional 16,454 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Intra-Cellular Therapies by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock worth $23,591,000 after acquiring an additional 18,999 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Intra-Cellular Therapies in the first quarter worth about $349,000. PNC Financial Services Group Inc. lifted its holdings in shares of Intra-Cellular Therapies by 25.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock worth $363,000 after acquiring an additional 1,204 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Intra-Cellular Therapies by 71.3% in the 1st quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 7,558 shares during the last quarter. Institutional investors own 86.95% of the company’s stock.

About Intra-Cellular Therapies

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.