Covestor Ltd Decreases Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Covestor Ltd reduced its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 6.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,644 shares of the biopharmaceutical company’s stock after selling 184 shares during the period. Covestor Ltd’s holdings in Intra-Cellular Therapies were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cynosure Group LLC bought a new stake in Intra-Cellular Therapies during the first quarter worth approximately $318,000. Edgestream Partners L.P. increased its position in shares of Intra-Cellular Therapies by 35.0% during the 1st quarter. Edgestream Partners L.P. now owns 18,137 shares of the biopharmaceutical company’s stock valued at $1,255,000 after purchasing an additional 4,707 shares during the last quarter. Vanguard Group Inc. lifted its position in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock worth $638,438,000 after buying an additional 131,679 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Intra-Cellular Therapies in the first quarter worth $1,052,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Intra-Cellular Therapies by 6.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,496 shares of the biopharmaceutical company’s stock worth $1,972,000 after buying an additional 1,700 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the sale, the director now owns 9,690 shares in the company, valued at approximately $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI traded up $1.55 during trading on Tuesday, reaching $78.03. 393,436 shares of the company’s stock traded hands, compared to its average volume of 1,016,952. The company’s 50 day simple moving average is $70.48 and its two-hundred day simple moving average is $69.64. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $84.89. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of -65.93 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm’s quarterly revenue was up 52.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. Research analysts expect that Intra-Cellular Therapies, Inc. will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ITCI. TD Cowen raised their target price on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and set a $120.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. Canaccord Genuity Group increased their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Robert W. Baird boosted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $103.00 price objective on shares of Intra-Cellular Therapies in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and an average target price of $94.83.

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.