Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 49.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,923 shares of the biopharmaceutical company's stock after selling 24,861 shares during the period. BNP Paribas Financial Markets' holdings in Intra-Cellular Therapies were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in Intra-Cellular Therapies by 13.9% during the 1st quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company's stock worth $256,000 after acquiring an additional 450 shares during the period. CWM LLC raised its stake in shares of Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 626 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Intra-Cellular Therapies by 962.7% during the second quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company's stock worth $3,341,000 after purchasing an additional 44,188 shares during the period. Oak Ridge Investments LLC purchased a new stake in Intra-Cellular Therapies in the second quarter valued at approximately $811,000. Finally, AlphaMark Advisors LLC acquired a new position in Intra-Cellular Therapies in the 2nd quarter worth approximately $289,000. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ITCI shares. Morgan Stanley lifted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Piper Sandler upgraded shares of Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $68.00 to $92.00 in a research report on Friday, September 6th. Royal Bank of Canada increased their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.23.

Insider Buying and Selling

In related news, President Michael Halstead sold 22,869 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Intra-Cellular Therapies Stock Up 0.5 %

Shares of NASDAQ ITCI traded up $0.46 during midday trading on Friday, hitting $84.55. The stock had a trading volume of 274,762 shares, compared to its average volume of 515,732. The stock has a 50 day simple moving average of $81.34 and a 200-day simple moving average of $76.15. The company has a market capitalization of $8.96 billion, a PE ratio of -97.18 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a 1 year low of $58.92 and a 1 year high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $172.30 million. During the same quarter in the previous year, the business posted ($0.25) EPS. The company's revenue for the quarter was up 39.0% on a year-over-year basis. As a group, analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share 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.