Charles Schwab Investment Management Inc. Sells 16,160 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Charles Schwab Investment Management Inc. trimmed its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 904,909 shares of the biopharmaceutical company’s stock after selling 16,160 shares during the period. Charles Schwab Investment Management Inc. owned about 0.85% of Intra-Cellular Therapies worth $66,212,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies in the 2nd quarter worth approximately $56,000. Capital Performance Advisors LLP bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $74,000. CWM LLC lifted its stake in 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 acquiring an additional 626 shares during the period. Covestor Ltd boosted its holdings in Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 521 shares in the last quarter. Finally, Assetmark Inc. increased its position in Intra-Cellular Therapies by 9.1% during the 3rd quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 207 shares during the period. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $86.59 on Friday. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of -99.53 and a beta of 0.97. Intra-Cellular Therapies, Inc. has a one year low of $58.78 and a one year high of $93.45. The company’s 50-day moving average is $80.10 and its 200 day moving average is $75.29.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Intra-Cellular Therapies’s revenue was up 39.0% on a year-over-year basis. During the same period last year, the business earned ($0.25) EPS. As a group, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. UBS Group dropped their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $92.00 in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average target price of $97.23.

Insiders Place Their Bets

In related news, President Michael Halstead sold 22,869 shares of the stock in a transaction on Tuesday, November 12th. The stock was 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 SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.