Mirae Asset Global Investments Co. Ltd. Sells 1,875 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,754 shares of the biopharmaceutical company’s stock after selling 1,875 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intra-Cellular Therapies were worth $3,028,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kapitalo Investimentos Ltda bought a new position in shares of Intra-Cellular Therapies in the 4th quarter worth $26,000. Signaturefd LLC raised its position in Intra-Cellular Therapies by 85.7% in the 4th quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 239 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Intra-Cellular Therapies in the 3rd quarter valued at $45,000. Cape Investment Advisory Inc. purchased a new stake in Intra-Cellular Therapies in the 4th quarter valued at $78,000. Finally, Parallel Advisors LLC raised its position in Intra-Cellular Therapies by 16.3% in the 4th quarter. Parallel Advisors LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 219 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ITCI shares. Mizuho raised their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Canaccord Genuity Group raised their target price on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. The Goldman Sachs Group raised their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. TD Cowen raised their target price 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. Finally, JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.33.

Intra-Cellular Therapies Stock Down 0.2 %

Shares of Intra-Cellular Therapies stock opened at $78.13 on Friday. The company has a market cap of $8.25 billion, a PE ratio of -67.35 and a beta of 1.01. The business has a 50 day moving average of $69.40 and a 200 day moving average of $69.43. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The company 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 firm’s revenue for the quarter was up 52.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.46) earnings per share. On average, research analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.51 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the sale, the director now directly owns 9,690 shares of the company’s stock, valued at $735,567.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 9,690 shares of the company’s stock, valued at $735,567.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction that occurred 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 sale, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

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.