OLD National Bancorp IN Has $1.49 Million Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

OLD National Bancorp IN trimmed its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,785 shares of the biopharmaceutical company’s stock after selling 817 shares during the period. OLD National Bancorp IN’s holdings in Intra-Cellular Therapies were worth $1,489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Shikiar Asset Management Inc. acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at $251,000. Handelsbanken Fonder AB grew its stake in shares of Intra-Cellular Therapies by 6.3% during the fourth quarter. Handelsbanken Fonder AB now owns 18,500 shares of the biopharmaceutical company’s stock worth $1,325,000 after purchasing an additional 1,100 shares during the period. Signaturefd LLC grew its stake in shares of Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the period. abrdn plc acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $4,204,000. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of Intra-Cellular Therapies by 100.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 54,499 shares of the biopharmaceutical company’s stock worth $3,903,000 after purchasing an additional 27,331 shares during the period. 92.33% of the stock is owned by institutional investors and hedge funds.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ ITCI opened at $74.54 on Tuesday. The business’s 50 day moving average price is $69.34 and its two-hundred day moving average price is $64.36. Intra-Cellular Therapies, Inc. has a twelve month low of $45.50 and a twelve month high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly 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. The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. Intra-Cellular Therapies had a negative return on equity of 23.02% and a negative net margin of 30.08%. The business’s revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.45) earnings per share. As a group, equities research analysts expect that Intra-Cellular Therapies, Inc. will post -0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their price objective on Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. TD Cowen lifted their target price on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group reduced their target price on Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Insider Activity

In other news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sharon Mates sold 22,590 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $69.79, for a total value of $1,576,556.10. Following the transaction, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $73,301,065.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $69.53, for a total value of $549,773.71. Following the completion of the transaction, the executive vice president now directly owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,487 shares of company stock valued at $11,364,950. 3.40% of the stock is owned by insiders.

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.