Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) CEO Sells $1,802,375.50 in Stock

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) CEO Sharon Mates sold 41,770 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $43.15, for a total transaction of $1,802,375.50. Following the sale, the chief executive officer now directly owns 1,130,309 shares of the company’s stock, valued at $48,772,833.35. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 13th, Sharon Mates sold 20,565 shares of Intra-Cellular Therapies stock. The shares were sold at an average price of $44.99, for a total transaction of $925,219.35.
• 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 %

NASDAQ ITCI opened at $45.31 on Wednesday. The company has a fifty day moving average of $48.16 and a two-hundred day moving average of $49.20. The firm 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 52 week low of $42.01 and a 52 week high of $66.00.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ITCI. Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, February 1st. JPMorgan Chase & Co. cut their target price on shares of Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 9th. Royal Bank of Canada cut their target price on shares of Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, March 1st. Finally, Mizuho cut their target price on shares of Intra-Cellular Therapies from $72.00 to $66.00 in a report on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.40.

Institutional Trading of Intra-Cellular Therapies

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

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.