Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,176 shares of the biopharmaceutical company’s stock after selling 405 shares during the period. Arizona State Retirement System’s holdings in Intra-Cellular Therapies were worth $1,731,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Intra-Cellular Therapies during the second quarter worth about $29,000. Neo Ivy Capital Management acquired a new stake in shares of Intra-Cellular Therapies in the third quarter valued at about $45,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at about $47,000. State of Wyoming lifted its position in Intra-Cellular Therapies by 57.9% during the 2nd quarter. State of Wyoming now owns 851 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 312 shares in the last quarter. Finally, CI Investments Inc. boosted its holdings in Intra-Cellular Therapies by 1,191.6% in the 3rd quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,561 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 75,361 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $67.25, for a total value of $5,068,027.25. Following the completion of the transaction, the chief executive officer now directly owns 1,050,309 shares in the company, valued at $70,633,280.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Lawrence J. Hineline sold 13,337 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $69.43, for a total transaction of $925,987.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 75,361 shares of Intra-Cellular Therapies stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $67.25, for a total transaction of $5,068,027.25. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at $70,633,280.25. The disclosure for this sale can be found here. Insiders have sold a total of 311,765 shares of company stock worth $20,860,487 over the last quarter. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ITCI has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group boosted their price objective on shares of Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Robert W. Baird started coverage on shares of Intra-Cellular Therapies in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $83.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $101.00 target price on shares of Intra-Cellular Therapies in a research report on Friday, February 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $82.00 price target on shares of Intra-Cellular Therapies in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.42.

Intra-Cellular Therapies Trading Down 3.1 %

ITCI stock opened at $65.88 on Friday. The stock’s 50 day simple moving average is $69.03 and its 200 day simple moving average is $63.32. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $76.11. The firm has a market cap of $6.38 billion, a P/E ratio of -45.12 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $135.97 million. During the same period in the prior year, the company earned ($0.45) earnings per share. The firm’s revenue was up 50.3% compared to the same quarter last year. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.65 EPS for the current fiscal year.

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.