PNC Financial Services Group Inc. Sells 239 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

PNC Financial Services Group Inc. cut its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,795 shares of the biopharmaceutical company’s stock after selling 239 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Intra-Cellular Therapies were worth $272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Avoro Capital Advisors LLC bought a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $161,543,000. Norges Bank purchased a new stake in shares of Intra-Cellular Therapies during the fourth quarter valued at $85,744,000. Polar Capital Holdings Plc boosted its stake in shares of Intra-Cellular Therapies by 150.0% during the third quarter. Polar Capital Holdings Plc now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $52,090,000 after purchasing an additional 600,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Intra-Cellular Therapies by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 9,094,302 shares of the biopharmaceutical company’s stock worth $651,334,000 after purchasing an additional 554,577 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Intra-Cellular Therapies by 84.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 885,000 shares of the biopharmaceutical company’s stock worth $46,100,000 after buying an additional 405,000 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Trading Down 0.7 %

Shares of ITCI opened at $67.99 on Tuesday. Intra-Cellular Therapies, Inc. has a 12 month low of $45.50 and a 12 month high of $84.89. The stock has a fifty day moving average price of $69.26 and a 200-day moving average price of $69.09. The firm has a market cap of $7.18 billion, a PE ratio of -58.61 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 52.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.46) earnings per share. As a group, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, Director Rory B. Riggs sold 4,462 shares of the firm’s stock in a transaction 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 transaction, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The transaction was disclosed in a filing with the SEC, which is available at this link. In other 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 transaction, the director now directly owns 116,600 shares of the company’s stock, valued at $8,811,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies 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 directly owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Needham & Company LLC increased their price objective on Intra-Cellular Therapies from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Robert W. Baird lifted their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Intra-Cellular Therapies in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.33.

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.