Emerald Advisers LLC Buys 48,705 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Emerald Advisers LLC raised its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 441,296 shares of the biopharmaceutical company’s stock after acquiring an additional 48,705 shares during the period. Intra-Cellular Therapies comprises about 1.3% of Emerald Advisers LLC’s investment portfolio, making the stock its 21st largest position. Emerald Advisers LLC’s holdings in Intra-Cellular Therapies were worth $32,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. EFG Asset Management North America Corp. boosted its stake in shares of Intra-Cellular Therapies by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after purchasing an additional 163 shares in the last quarter. US Bancorp DE boosted its position in Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock valued at $582,000 after buying an additional 251 shares in the last quarter. Lisanti Capital Growth LLC grew its stake in Intra-Cellular Therapies by 0.8% during the first quarter. Lisanti Capital Growth LLC now owns 53,285 shares of the biopharmaceutical company’s stock worth $3,687,000 after buying an additional 400 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Intra-Cellular Therapies by 13.9% during the first quarter. Tidal Investments LLC now owns 3,698 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 450 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Intra-Cellular Therapies in the first quarter valued at approximately $32,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITCI. 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, September 6th. Morgan Stanley raised their target price on Intra-Cellular Therapies from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Intra-Cellular Therapies in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two 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, the stock has an average rating of “Moderate Buy” and an average target price of $96.62.

Intra-Cellular Therapies Trading Up 2.1 %

Shares of ITCI traded up $1.79 on Friday, reaching $86.54. 935,219 shares of the company’s stock were exchanged, compared to its average volume of 610,982. The business has a 50 day moving average price of $75.18 and a two-hundred day moving average price of $73.23. Intra-Cellular Therapies, Inc. has a 12 month low of $50.87 and a 12 month high of $88.00. The stock has a market capitalization of $9.17 billion, a P/E ratio of -99.47 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its 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 business had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) EPS. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.63 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 53,013 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total transaction of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark Neumann sold 18,714 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $75.08, for a total value of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,316 shares of company stock worth $13,037,345. 2.60% of the stock is owned by insiders.

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.