Hennion & Walsh Asset Management Inc. Sells 1,569 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,942 shares of the biopharmaceutical company’s stock after selling 1,569 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $1,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EFG Asset Management North America Corp. lifted its position in shares of Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after purchasing an additional 163 shares in the last quarter. Lisanti Capital Growth LLC lifted its position in shares of Intra-Cellular Therapies by 0.8% during the 1st quarter. Lisanti Capital Growth LLC now owns 53,285 shares of the biopharmaceutical company’s stock worth $3,687,000 after buying an additional 400 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Intra-Cellular Therapies by 13.9% in the 1st quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 450 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Intra-Cellular Therapies in the first quarter valued at approximately $32,000. Finally, First Hawaiian Bank increased its position in shares of Intra-Cellular Therapies by 8.3% during the second quarter. First Hawaiian Bank now owns 6,466 shares of the biopharmaceutical company’s stock valued at $443,000 after acquiring an additional 493 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITCI shares. The Goldman Sachs Group cut their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Morgan Stanley upped their price objective on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and eleven 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 an average target price of $96.62.

Insider Transactions at Intra-Cellular Therapies

In related news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sharon Mates sold 28,680 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.46, for a total value of $2,135,512.80. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $79,696,697.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,316 shares of company stock valued at $13,037,345. 2.60% of the stock is currently owned by corporate insiders.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $75.81 on Friday. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $84.89. The stock’s fifty day moving average price is $74.52 and its two-hundred day moving average price is $72.78. The company has a market cap of $8.01 billion, a P/E ratio of -87.14 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm’s quarterly revenue was up 45.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) EPS. On average, analysts expect that Intra-Cellular Therapies, Inc. will post -0.6 earnings per share for the current fiscal 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.