Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 34.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,217 shares of the biopharmaceutical company’s stock after selling 1,670 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Intra-Cellular Therapies were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Wasatch Advisors LP raised its stake in shares of Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after acquiring an additional 227,439 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Intra-Cellular Therapies by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,651 shares of the biopharmaceutical company’s stock valued at $1,152,000 after buying an additional 2,090 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at $26,000. HighPoint Advisor Group LLC acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at $217,000. Finally, Vanguard Group Inc. raised its stake in 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 valued at $651,334,000 after buying an additional 554,577 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ITCI. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. UBS Group restated a “neutral” rating and issued a $83.00 price target (down from $85.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. Royal Bank of Canada restated an “outperform” rating and issued a $103.00 price target on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. Robert W. Baird raised their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Mizuho raised their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.33.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $69.07 on Thursday. Intra-Cellular Therapies, Inc. has a 52-week low of $45.50 and a 52-week high of $84.89. The business’s 50-day moving average price is $69.07 and its 200 day moving average price is $69.11.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. During the same quarter last year, the company posted ($0.46) earnings per share. The business’s revenue was up 52.0% on a year-over-year basis. On average, equities 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 Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now owns 9,690 shares in the company, valued at approximately $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now owns 9,690 shares in the company, valued at approximately $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the sale, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Intra-Cellular Therapies 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.