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

Fmr LLC lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,121,652 shares of the biopharmaceutical company’s stock after selling 116,146 shares during the quarter. Fmr LLC owned about 10.49% of Intra-Cellular Therapies worth $813,771,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ITCI. Perceptive Advisors LLC increased its holdings in shares of Intra-Cellular Therapies by 62.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock worth $117,557,000 after buying an additional 661,052 shares during the last quarter. Millennium Management LLC grew its position in Intra-Cellular Therapies by 214.5% in the second quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock worth $60,895,000 after acquiring an additional 606,358 shares during the period. Avoro Capital Advisors LLC grew its position in Intra-Cellular Therapies by 21.2% in the second quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $205,470,000 after acquiring an additional 525,000 shares during the period. Marshall Wace LLP acquired a new stake in Intra-Cellular Therapies during the second quarter worth $34,178,000. Finally, Hood River Capital Management LLC purchased a new stake in Intra-Cellular Therapies in the second quarter valued at $33,390,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Insider Activity

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Price Performance

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

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITCI. UBS Group cut their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley increased their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Company Profile

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.