Silvercrest Asset Management Group LLC Cuts Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Silvercrest Asset Management Group LLC trimmed its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 24.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 42,276 shares of the biopharmaceutical company’s stock after selling 13,507 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Intra-Cellular Therapies were worth $2,925,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. boosted its stake in Intra-Cellular Therapies by 3.0% during the 4th quarter. Xponance Inc. now owns 5,676 shares of the biopharmaceutical company’s stock valued at $407,000 after purchasing an additional 163 shares during the last quarter. Bailard Inc. boosted its stake in shares of Intra-Cellular Therapies by 1.2% in the 4th quarter. Bailard Inc. now owns 17,080 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 200 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Intra-Cellular Therapies by 16.3% in the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 219 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Intra-Cellular Therapies by 17.8% in the 4th quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 338 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITCI has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $103.00 price target on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 target price on shares of Intra-Cellular Therapies in a report on Friday, June 14th. Robert W. Baird raised their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Mizuho raised their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Bank of America raised their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.83.

Insider Transactions at Intra-Cellular Therapies

In related news, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares in the company, valued at $735,567.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the transaction, the director now owns 9,690 shares of the company’s stock, valued at approximately $735,567.90. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock traded down $0.63 during trading hours on Tuesday, hitting $77.56. The stock had a trading volume of 327,884 shares, compared to its average volume of 1,011,933. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89. The stock’s 50-day moving average price is $71.79 and its two-hundred day moving average price is $69.98. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of -66.78 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The business’s revenue was up 52.0% compared to the same quarter last year. As a group, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.54 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.