Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,200 shares of the biopharmaceutical company’s stock after selling 6,200 shares during the period. Canada Pension Plan Investment Board owned approximately 0.14% of Intra-Cellular Therapies worth $10,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter valued at about $32,000. Fidelis Capital Partners LLC bought a new position in shares of Intra-Cellular Therapies in the first quarter worth about $53,000. Summit Securities Group LLC bought a new position in shares of Intra-Cellular Therapies in the second quarter worth about $56,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth approximately $78,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analysts Set New Price Targets

ITCI has been the subject of a number of recent research reports. Mizuho boosted their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. The Goldman Sachs Group dropped their price target on shares of 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Canaccord Genuity Group upped their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued 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 target price of $96.58.

Intra-Cellular Therapies Stock Down 0.4 %

Intra-Cellular Therapies stock opened at $75.52 on Wednesday. The stock has a market capitalization of $7.97 billion, a PE ratio of -65.10 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a twelve month low of $45.50 and a twelve month high of $84.89. The company has a 50 day moving average of $75.55 and a 200-day moving average of $71.63.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. The company had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. During the same quarter in the prior year, the company earned ($0.45) earnings per share. The business’s quarterly revenue was up 45.7% compared to the same quarter last year. Equities analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark Neumann sold 18,714 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 175,316 shares of company stock worth $13,037,345. 3.40% of the stock is owned by insiders.

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.