American Century Companies Inc. Sells 273,930 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

American Century Companies Inc. decreased its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 50.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,983 shares of the biopharmaceutical company’s stock after selling 273,930 shares during the quarter. American Century Companies Inc. owned approximately 0.25% of Intra-Cellular Therapies worth $18,423,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth $32,000. Fidelis Capital Partners LLC purchased a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth $53,000. Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies during the 2nd quarter worth $56,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth $78,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ITCI. Canaccord Genuity Group upped their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Royal Bank of Canada decreased their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Mizuho increased their price target on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.58.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction dated 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 directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction dated 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 directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the sale, the executive vice president now directly owns 29,700 shares in the company, valued at $2,229,876. The disclosure for this sale can be found here. Insiders have sold a total of 179,778 shares of company stock valued at $13,374,538 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Stock Up 0.8 %

Shares of NASDAQ:ITCI opened at $77.61 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $45.50 and a 52-week high of $84.89. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of -66.91 and a beta of 1.00. The business has a 50-day moving average price of $75.67 and a 200-day moving average price of $71.44.

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