Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Position Trimmed by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,434 shares of the biopharmaceutical company’s stock after selling 1,389 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Intra-Cellular Therapies were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Avior Wealth Management LLC lifted its position in Intra-Cellular Therapies by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after buying an additional 131 shares in the last quarter. EFG Asset Management North America Corp. raised its holdings in shares of Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock worth $2,357,000 after acquiring an additional 163 shares in the last quarter. Assetmark Inc. boosted its position in Intra-Cellular Therapies by 9.1% during the third quarter. Assetmark Inc. now owns 2,477 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 207 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in Intra-Cellular Therapies by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock valued at $2,610,000 after purchasing an additional 223 shares in the last quarter. Finally, US Bancorp DE grew its stake in Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after purchasing an additional 251 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total transaction of $4,375,800.00. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $83.03 on Friday. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of -95.44 and a beta of 0.95. The business’s fifty day moving average price is $82.44 and its two-hundred day moving average price is $76.69. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) earnings per share. Research analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ITCI shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Morgan Stanley raised their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Royal Bank of Canada raised their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.23.

Intra-Cellular Therapies Company 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.