Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. decreased its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 85.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,885 shares of the biopharmaceutical company's stock after selling 16,348 shares during the quarter. Phocas Financial Corp.'s holdings in Intra-Cellular Therapies were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITCI. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Intra-Cellular Therapies by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company's stock worth $280,000 after acquiring an additional 670 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Intra-Cellular Therapies by 185.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company's stock valued at $645,000 after purchasing an additional 5,725 shares in the last quarter. abrdn plc raised its stake in Intra-Cellular Therapies by 7.5% during the third quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company's stock valued at $18,363,000 after purchasing an additional 17,612 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Intra-Cellular Therapies by 3.0% during the third quarter. Pinnacle Associates Ltd. now owns 176,124 shares of the biopharmaceutical company's stock valued at $12,614,000 after purchasing an additional 5,055 shares in the last quarter. Finally, US Bancorp DE raised its stake in Intra-Cellular Therapies by 3.3% during the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company's stock valued at $582,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 92.33% of the company's stock.

Insider Activity

In other news, CEO Sharon Mates sold 51,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

ITCI has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Piper Sandler reaffirmed a "neutral" rating and set a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Finally, Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and upped their price target for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $106.08.

Intra-Cellular Therapies Stock Performance

Intra-Cellular Therapies stock traded down $0.05 during midday trading on Friday, hitting $128.20. 1,486,294 shares of the company's stock were exchanged, compared to its average volume of 3,849,049. Intra-Cellular Therapies, Inc. has a 12 month low of $63.30 and a 12 month high of $129.00. The firm has a 50-day moving average of $114.58 and a two-hundred day moving average of $91.61. The company has a market cap of $13.63 billion, a PE ratio of -147.35 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). 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 $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

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.