Nicholas Investment Partners LP Trims Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Nicholas Investment Partners LP reduced its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCIFree Report) by 85.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,244 shares of the biopharmaceutical company’s stock after selling 285,310 shares during the period. Nicholas Investment Partners LP owned about 0.05% of Intra-Cellular Therapies worth $3,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Turn Management LLC purchased a new stake in Intra-Cellular Therapies during the fourth quarter valued at approximately $15,572,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Intra-Cellular Therapies during the fourth quarter valued at approximately $208,000. Principal Financial Group Inc. boosted its position in shares of Intra-Cellular Therapies by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 460,566 shares of the biopharmaceutical company’s stock worth $32,986,000 after purchasing an additional 44,564 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Intra-Cellular Therapies by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 993,813 shares of the biopharmaceutical company’s stock worth $71,177,000 after purchasing an additional 18,899 shares during the period. Finally, Lisanti Capital Growth LLC bought a new position in shares of Intra-Cellular Therapies in the fourth quarter worth approximately $3,788,000. 92.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 20,565 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $68,490,649.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Lawrence J. Hineline sold 13,337 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total value of $925,987.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sharon Mates sold 20,565 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.21, for a total transaction of $1,341,043.65. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at $68,490,649.89. The disclosure for this sale can be found here. Insiders have sold a total of 168,487 shares of company stock worth $11,364,950 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ITCI shares. The Goldman Sachs Group upped their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and set a $120.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 24th. Canaccord Genuity Group upped their target price on shares of Intra-Cellular Therapies from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Robert W. Baird upped their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

View Our Latest Research Report on ITCI

Intra-Cellular Therapies Price Performance

Shares of ITCI traded up $1.13 during midday trading on Wednesday, hitting $66.84. The stock had a trading volume of 691,550 shares, compared to its average volume of 922,964. The firm has a market cap of $7.06 billion, a PE ratio of -57.62 and a beta of 1.01. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $84.89. The stock’s 50 day moving average is $68.80 and its 200 day moving average is $66.46.

Intra-Cellular Therapies (NASDAQ:ITCIGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.15. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The firm’s revenue was up 52.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.46) EPS. As a group, equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.53 earnings per share for the current fiscal year.

Intra-Cellular Therapies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intra-Cellular Therapies (NASDAQ:ITCI)

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