Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Position Cut by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 49.9% in the 3rd quarter, Holdings Channel reports. The fund owned 24,923 shares of the biopharmaceutical company’s stock after selling 24,861 shares during the period. BNP Paribas Financial Markets’ holdings in Intra-Cellular Therapies were worth $1,824,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Oak Ridge Investments LLC bought a new position in Intra-Cellular Therapies in the 2nd quarter worth about $811,000. SG Americas Securities LLC grew its holdings in Intra-Cellular Therapies by 962.7% in the 2nd quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock worth $3,341,000 after buying an additional 44,188 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Intra-Cellular Therapies by 31.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after acquiring an additional 109,892 shares during the period. TimesSquare Capital Management LLC raised its stake in Intra-Cellular Therapies by 6.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after acquiring an additional 26,600 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Intra-Cellular Therapies during the 2nd quarter worth $14,755,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ITCI shares. JPMorgan Chase & Co. raised their price target on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Piper Sandler raised shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $92.00 in a research note on Friday, September 6th. Morgan Stanley upped their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has an average rating of “Moderate Buy” and an average target price of $97.23.

Insider Activity

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value 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 Stock Up 0.5 %

Shares of NASDAQ ITCI opened at $84.55 on Friday. Intra-Cellular Therapies, Inc. has a 52-week low of $58.92 and a 52-week high of $93.45. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -97.18 and a beta of 0.95. The stock’s fifty day simple moving average is $81.34 and its 200 day simple moving average is $76.15.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data 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). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the previous year, the firm posted ($0.25) EPS. Intra-Cellular Therapies’s quarterly revenue was up 39.0% on a year-over-year basis. As a group, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 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.