Assenagon Asset Management S.A. Has $17.04 Million Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Assenagon Asset Management S.A. lessened its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 32.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 232,933 shares of the biopharmaceutical company’s stock after selling 109,910 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Intra-Cellular Therapies were worth $17,044,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Intra-Cellular Therapies in the 1st quarter valued at $32,000. Fidelis Capital Partners LLC bought a new stake in Intra-Cellular Therapies during the first quarter valued at about $53,000. Summit Securities Group LLC acquired a new stake in shares of Intra-Cellular Therapies in the second quarter valued at about $56,000. CWM LLC increased its stake in shares of Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the period. Finally, EntryPoint Capital LLC lifted its position in shares of Intra-Cellular Therapies by 138.7% during the 1st quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,259 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

ITCI has been the topic of several recent analyst reports. Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. upped their target price on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. UBS Group decreased their price target on shares of Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two 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, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average target price of $96.62.

Insider Activity at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at approximately $2,229,876. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,316 shares of company stock valued at $13,037,345 in the last ninety days. Insiders own 2.60% of the company’s stock.

Intra-Cellular Therapies Trading Up 0.2 %

NASDAQ ITCI opened at $75.81 on Friday. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of -87.14 and a beta of 1.00. The stock’s 50 day moving average is $74.52 and its two-hundred day moving average is $72.78.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm had revenue of $161.40 million for the quarter, compared to analysts’ expectations of $157.74 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The business’s revenue was up 45.7% compared to the same quarter last year. On average, analysts predict that Intra-Cellular Therapies, Inc. will post -0.6 earnings per share for the current year.

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.