Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Stock Position Raised by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust boosted its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,051 shares of the biopharmaceutical company’s stock after acquiring an additional 1,920 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Intra-Cellular Therapies were worth $21,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of Intra-Cellular Therapies by 97.8% in the 4th quarter. Russell Investments Group Ltd. now owns 15,317 shares of the biopharmaceutical company’s stock worth $1,097,000 after purchasing an additional 7,572 shares during the last quarter. Natixis Advisors L.P. lifted its stake in Intra-Cellular Therapies by 8.2% in the fourth quarter. Natixis Advisors L.P. now owns 33,888 shares of the biopharmaceutical company’s stock valued at $2,427,000 after buying an additional 2,554 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Intra-Cellular Therapies by 19.3% during the fourth quarter. M&T Bank Corp now owns 4,780 shares of the biopharmaceutical company’s stock valued at $342,000 after acquiring an additional 774 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Intra-Cellular Therapies by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 993,813 shares of the biopharmaceutical company’s stock worth $71,177,000 after acquiring an additional 18,899 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Intra-Cellular Therapies by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 460,566 shares of the biopharmaceutical company’s stock worth $32,986,000 after acquiring an additional 44,564 shares during the period. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Intra-Cellular Therapies Stock Up 1.5 %

Shares of Intra-Cellular Therapies stock opened at $73.54 on Friday. The business has a fifty day simple moving average of $75.08 and a 200-day simple moving average of $71.16. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of -63.40 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. Intra-Cellular Therapies had a negative net margin of 14.93% and a negative return on equity of 11.48%. Intra-Cellular Therapies’s revenue was up 45.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. Analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total value of $2,505,404.64. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Sharon Mates sold 34,396 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Neumann sold 18,714 shares of Intra-Cellular Therapies stock in a transaction on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The disclosure for this sale can be found here. Insiders sold a total of 199,778 shares of company stock valued at $14,892,738 over the last ninety days. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ITCI shares. Canaccord Genuity Group upped their target price on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. UBS Group decreased their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Mizuho raised their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Royal Bank of Canada reduced their price target on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Piper Sandler raised Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and raised their price target for the company from $68.00 to $92.00 in a report on Friday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.58.

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.