Fmr LLC Trims Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Fmr LLC lessened its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,121,652 shares of the biopharmaceutical company’s stock after selling 116,146 shares during the quarter. Fmr LLC owned 0.10% of Intra-Cellular Therapies worth $813,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Intra-Cellular Therapies during the second quarter worth approximately $56,000. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies during the 3rd quarter worth $74,000. CWM LLC grew its position in Intra-Cellular Therapies by 83.9% during the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the last quarter. Covestor Ltd increased its stake in Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 521 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Intra-Cellular Therapies by 9.1% in the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITCI. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their price target 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. UBS Group dropped their price objective on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Intra-Cellular Therapies Price Performance

ITCI opened at $86.59 on Thursday. Intra-Cellular Therapies, Inc. has a 1-year low of $58.78 and a 1-year high of $93.45. The stock has a market cap of $9.18 billion, a P/E ratio of -99.34 and a beta of 0.97. The stock’s 50 day simple moving average is $79.67 and its 200 day simple moving average is $75.13.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.25) EPS. Research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS 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.