Public Employees Retirement System of Ohio Sells 1,861 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Public Employees Retirement System of Ohio lessened its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,529 shares of the biopharmaceutical company’s stock after selling 1,861 shares during the period. Public Employees Retirement System of Ohio owned about 0.09% of Intra-Cellular Therapies worth $6,624,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $32,000. Summit Securities Group LLC bought a new stake in Intra-Cellular Therapies during the second quarter worth $56,000. Capital Performance Advisors LLP acquired a new stake in Intra-Cellular Therapies in the third quarter valued at $74,000. CWM LLC grew its position in shares of Intra-Cellular Therapies by 83.9% in the 2nd quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares during the period. Finally, Quarry LP grew its position in shares of Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $83.03 on Friday. Intra-Cellular Therapies, Inc. has a 52 week low of $62.78 and a 52 week high of $93.45. The company has a market capitalization of $8.80 billion, a PE ratio of -95.44 and a beta of 0.95. The company’s 50-day simple moving average is $82.44 and its 200 day simple moving average is $76.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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 return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the previous year, the company earned ($0.25) EPS. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. On average, analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITCI. JPMorgan Chase & Co. upped their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada raised their price objective on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $68.00 to $92.00 in a research note on Friday, September 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and an average price target of $97.23.

Insiders Place Their Bets

In other 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 document filed with the SEC, which is available through the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 $91,834,228.20. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

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.