Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Stock Position Lowered by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,017,647 shares of the biopharmaceutical company’s stock after selling 235,257 shares during the quarter. Wellington Management Group LLP owned approximately 0.96% of Intra-Cellular Therapies worth $74,461,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in Intra-Cellular Therapies by 3.1% in the 3rd quarter. State Street Corp now owns 1,858,915 shares of the biopharmaceutical company’s stock worth $136,017,000 after buying an additional 56,664 shares in the last quarter. Quarry LP lifted its position in Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,300 shares in the last quarter. Parkman Healthcare Partners LLC lifted its position in Intra-Cellular Therapies by 30.6% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 241,575 shares of the biopharmaceutical company’s stock worth $17,676,000 after buying an additional 56,547 shares in the last quarter. Janus Henderson Group PLC lifted its position in Intra-Cellular Therapies by 6.4% in the 3rd quarter. Janus Henderson Group PLC now owns 42,729 shares of the biopharmaceutical company’s stock worth $3,126,000 after buying an additional 2,568 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Intra-Cellular Therapies in the 3rd quarter worth approximately $280,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Transactions at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

ITCI has been the subject of a number of research analyst reports. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Morgan Stanley increased their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $83.11 on Wednesday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of -95.53 and a beta of 0.95. The company’s fifty day moving average is $81.78 and its two-hundred day moving average is $76.47. Intra-Cellular Therapies, Inc. has a 52-week low of $58.92 and a 52-week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.25) earnings per share. As a group, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

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.