PNC Financial Services Group Inc. Reduces Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

PNC Financial Services Group Inc. reduced its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,795 shares of the biopharmaceutical company’s stock after selling 239 shares during the period. PNC Financial Services Group Inc.’s holdings in Intra-Cellular Therapies were worth $272,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ITCI. Signaturefd LLC increased its stake in Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 239 shares during the period. Neo Ivy Capital Management acquired a new position in Intra-Cellular Therapies in the 3rd quarter valued at about $45,000. Cape Investment Advisory Inc. purchased a new stake in Intra-Cellular Therapies during the 4th quarter valued at approximately $78,000. Parallel Advisors LLC lifted its position in Intra-Cellular Therapies by 16.3% during the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 219 shares during the period. Finally, Assetmark Inc. lifted its position in Intra-Cellular Therapies by 17.8% during the 4th quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 338 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITCI. TD Cowen upped their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Bank of America upped their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird lifted their target price on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Needham & Company LLC increased their price target on shares of Intra-Cellular Therapies from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Mizuho lifted their price objective on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.33.

Intra-Cellular Therapies Stock Performance

Shares of ITCI stock opened at $67.99 on Tuesday. The stock has a fifty day moving average price of $69.26 and a 200 day moving average price of $69.09. The stock has a market cap of $7.18 billion, a PE ratio of -58.61 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.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million during the quarter, compared to the consensus estimate of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The business’s revenue was up 52.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.46) EPS. As a group, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.51 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.