Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) EVP Suresh K. Durgam Sells 7,344 Shares

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) EVP Suresh K. Durgam sold 7,344 shares of Intra-Cellular Therapies stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $45.04, for a total transaction of $330,773.76. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $1,040,604.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Intra-Cellular Therapies Stock Performance

ITCI opened at $45.31 on Wednesday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $66.00. The firm’s fifty day moving average is $48.16 and its 200 day moving average is $49.20. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -16.66 and a beta of 1.13.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last released its earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.17. Intra-Cellular Therapies had a negative net margin of 102.37% and a negative return on equity of 35.88%. The company had revenue of $87.87 million for the quarter, compared to analysts’ expectations of $86.97 million. During the same quarter in the previous year, the company earned ($1.05) EPS. Intra-Cellular Therapies’s revenue for the quarter was up 242.3% on a year-over-year basis. On average, equities research analysts predict that Intra-Cellular Therapies, Inc. will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Mizuho cut their price objective on shares of Intra-Cellular Therapies from $72.00 to $66.00 in a research report on Friday, March 3rd. JPMorgan Chase & Co. cut their price objective on shares of Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, March 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.40.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Intra-Cellular Therapies by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,116,020 shares of the biopharmaceutical company’s stock worth $377,638,000 after purchasing an additional 35,822 shares in the last quarter. BlackRock Inc. lifted its stake in Intra-Cellular Therapies by 0.8% in the 3rd quarter. BlackRock Inc. now owns 7,102,050 shares of the biopharmaceutical company’s stock worth $330,459,000 after purchasing an additional 53,693 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Intra-Cellular Therapies in the 1st quarter worth $248,502,000. Alliancebernstein L.P. lifted its stake in Intra-Cellular Therapies by 4.2% in the 3rd quarter. Alliancebernstein L.P. now owns 2,200,408 shares of the biopharmaceutical company’s stock worth $102,385,000 after purchasing an additional 87,821 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Intra-Cellular Therapies by 9.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,018,686 shares of the biopharmaceutical company’s stock worth $93,929,000 after purchasing an additional 167,737 shares in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Intra-Cellular Therapies Company Profile

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Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS.