Oak Ridge Investments LLC Sells 448 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Oak Ridge Investments LLC trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,391 shares of the biopharmaceutical company’s stock after selling 448 shares during the period. Oak Ridge Investments LLC’s holdings in Intra-Cellular Therapies were worth $833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Intra-Cellular Therapies by 962.7% in the 2nd quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock valued at $3,341,000 after buying an additional 44,188 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Intra-Cellular Therapies by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after purchasing an additional 191,416 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Intra-Cellular Therapies during the 1st quarter valued at about $18,379,000. Russell Investments Group Ltd. boosted its stake in Intra-Cellular Therapies by 232.0% during the 1st quarter. Russell Investments Group Ltd. now owns 50,845 shares of the biopharmaceutical company’s stock valued at $3,519,000 after purchasing an additional 35,528 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter valued at about $14,755,000. 92.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. The Goldman Sachs Group cut their target price on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley boosted their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.62.

Intra-Cellular Therapies Price Performance

Shares of ITCI stock opened at $86.54 on Friday. The company’s fifty day simple moving average is $74.94 and its two-hundred day simple moving average is $73.13. Intra-Cellular Therapies, Inc. has a 1 year low of $50.87 and a 1 year high of $88.00. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of -99.47 and a beta of 1.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (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 11.09%. The business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. During the same period in the previous year, the firm earned ($0.25) EPS. The company’s revenue was up 39.0% compared to the same quarter last year. Equities research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $77,962,764.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,316 shares of company stock valued at $13,037,345 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.