Silvercrest Asset Management Group LLC Sells 13,507 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Silvercrest Asset Management Group LLC reduced its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 24.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ITCI. Vanguard Group Inc. grew its stake in Intra-Cellular Therapies by 1.4% in the first quarter. Vanguard Group Inc. now owns 9,225,981 shares of the biopharmaceutical company’s stock valued at $638,438,000 after acquiring an additional 131,679 shares during the period. Wasatch Advisors LP grew its stake in Intra-Cellular Therapies by 6.3% in the first quarter. Wasatch Advisors LP now owns 3,854,747 shares of the biopharmaceutical company’s stock valued at $266,748,000 after acquiring an additional 227,439 shares during the period. Avoro Capital Advisors LLC grew its stake in Intra-Cellular Therapies by 9.7% in the first quarter. Avoro Capital Advisors LLC now owns 2,475,000 shares of the biopharmaceutical company’s stock valued at $171,270,000 after acquiring an additional 219,445 shares during the period. Clearbridge Investments LLC grew its stake in Intra-Cellular Therapies by 12.3% in the first quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after acquiring an additional 191,416 shares during the period. Finally, Norges Bank acquired a new stake in Intra-Cellular Therapies in the fourth quarter valued at approximately $85,744,000. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Stock Down 0.8 %

Intra-Cellular Therapies stock traded down $0.63 during mid-day trading on Tuesday, reaching $77.56. 327,884 shares of the company’s stock were exchanged, compared to its average volume of 1,011,933. The business’s fifty day simple moving average is $71.79 and its 200 day simple moving average is $69.98. The firm has a market capitalization of $8.19 billion, a PE ratio of -66.78 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a one year low of $45.50 and a one year high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analyst estimates of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. Intra-Cellular Therapies’s quarterly revenue was up 52.0% compared to the same quarter last year. During the same period last year, the company posted ($0.46) earnings per share. On average, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Intra-Cellular Therapies news, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rory B. Riggs sold 4,462 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the sale, the director now owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group reissued a “neutral” rating and issued a $83.00 price objective (down previously from $85.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. TD Cowen lifted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird lifted their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Bank of America lifted their target price on Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Needham & Company LLC lifted their target price on Intra-Cellular Therapies from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus price target of $94.83.

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.