First Turn Management LLC Has $18.64 Million Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

First Turn Management LLC trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 26.6% in the 3rd quarter, Holdings Channel reports. The firm owned 254,800 shares of the biopharmaceutical company’s stock after selling 92,543 shares during the quarter. Intra-Cellular Therapies accounts for 3.0% of First Turn Management LLC’s holdings, making the stock its 10th largest position. First Turn Management LLC’s holdings in Intra-Cellular Therapies were worth $18,644,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ITCI. Summit Securities Group LLC purchased a new stake in shares of Intra-Cellular Therapies during the 2nd quarter valued at $56,000. Capital Performance Advisors LLP purchased a new position in Intra-Cellular Therapies in the 3rd quarter worth $74,000. CWM LLC increased its position in shares of Intra-Cellular Therapies by 83.9% in the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 626 shares during the period. Covestor Ltd increased its position in shares of Intra-Cellular Therapies by 40.4% in the third quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 521 shares during the period. Finally, EntryPoint Capital LLC increased its position in shares of Intra-Cellular Therapies by 138.7% in the first quarter. EntryPoint Capital LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,259 shares during the period. 92.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at $77,962,764.36. This represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Halstead sold 22,869 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total transaction of $2,038,085.28. The disclosure for this sale can be found here. Insiders have sold a total of 179,471 shares of company stock worth $13,670,383 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. The Goldman Sachs Group decreased their target price on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a report on Monday, September 16th. Finally, Morgan Stanley boosted their price objective on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Two research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Intra-Cellular Therapies Trading Down 1.1 %

ITCI stock opened at $82.47 on Tuesday. Intra-Cellular Therapies, Inc. has a 52 week low of $56.83 and a 52 week high of $93.45. The company has a fifty day simple moving average of $78.27 and a two-hundred day simple moving average of $74.32.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) EPS. On average, equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 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.