Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by MML Investors Services LLC

MML Investors Services LLC cut its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,997 shares of the biopharmaceutical company’s stock after selling 133 shares during the period. MML Investors Services LLC’s holdings in Intra-Cellular Therapies were worth $292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Intra-Cellular Therapies by 31.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock worth $33,258,000 after purchasing an additional 109,892 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Intra-Cellular Therapies by 6.5% during the third quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after buying an additional 26,600 shares during the period. Cynosure Group LLC grew its holdings in shares of Intra-Cellular Therapies by 161.0% during the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company’s stock valued at $1,057,000 after buying an additional 8,909 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Intra-Cellular Therapies in the 2nd quarter valued at $14,755,000. Finally, Nicholas Investment Partners LP raised its stake in Intra-Cellular Therapies by 112.1% in the 2nd quarter. Nicholas Investment Partners LP now owns 151,409 shares of the biopharmaceutical company’s stock worth $10,370,000 after acquiring an additional 80,038 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ITCI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Royal Bank of Canada increased their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler upgraded shares of 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 research note on Friday, September 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Stock Up 1.5 %

Shares of Intra-Cellular Therapies stock opened at $85.24 on Thursday. The firm has a market cap of $9.04 billion, a PE ratio of -97.98 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a twelve month low of $62.78 and a twelve month high of $93.45. The business has a 50-day moving average price of $84.05 and a 200 day moving average price of $77.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS 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 business had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter last year, the firm earned ($0.25) earnings per share. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. On average, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

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.