Emerald Mutual Fund Advisers Trust Boosts Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Emerald Mutual Fund Advisers Trust lifted its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned 0.30% of Intra-Cellular Therapies worth $21,509,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ITCI. Kapitalo Investimentos Ltda purchased a new position in Intra-Cellular Therapies during the fourth quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in shares of Intra-Cellular Therapies in the 1st quarter worth $32,000. Fidelis Capital Partners LLC acquired a new position in Intra-Cellular Therapies in the first quarter valued at $53,000. Summit Securities Group LLC purchased a new stake in Intra-Cellular Therapies during the second quarter valued at about $56,000. Finally, Cape Investment Advisory Inc. acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth about $78,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the sale, the director now owns 9,690 shares in the company, valued at $735,567.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the transaction, the director now owns 9,690 shares of the company’s stock, valued at $735,567.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now owns 116,600 shares of the company’s stock, valued at $8,811,462. The disclosure for this sale can be found here. In the last three months, insiders sold 199,778 shares of company stock worth $14,892,738. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ITCI has been the topic of several research analyst reports. UBS Group reduced their price objective on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group boosted their price objective on shares of Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. increased their price objective on shares of Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reduced their target price on shares of Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.58.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $73.54 on Friday. The firm has a 50-day moving average of $75.08 and a two-hundred day moving average of $71.16. The stock has a market cap of $7.76 billion, a P/E ratio of -63.40 and a beta of 1.00. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. Intra-Cellular Therapies had a negative return on equity of 11.48% and a negative net margin of 14.93%. The firm had revenue of $161.40 million during the quarter, compared to the consensus estimate of $157.74 million. During the same quarter in the prior year, the business posted ($0.45) earnings per share. Intra-Cellular Therapies’s revenue for the quarter was up 45.7% on a year-over-year basis. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current 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.