Phocas Financial Corp. Buys New Shares in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Phocas Financial Corp. purchased a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,210 shares of the biopharmaceutical company’s stock, valued at approximately $1,949,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Intra-Cellular Therapies by 209.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 154,700 shares of the biopharmaceutical company’s stock valued at $8,058,000 after buying an additional 104,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Intra-Cellular Therapies by 36.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,914 shares of the biopharmaceutical company’s stock worth $50,783,000 after acquiring an additional 259,424 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Intra-Cellular Therapies by 5.1% in the 3rd quarter. American Century Companies Inc. now owns 441,410 shares of the biopharmaceutical company’s stock worth $22,993,000 after acquiring an additional 21,604 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Intra-Cellular Therapies by 56.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 126,532 shares of the biopharmaceutical company’s stock valued at $6,591,000 after purchasing an additional 45,616 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Intra-Cellular Therapies by 13.9% during the 3rd quarter. Emerald Advisers LLC now owns 381,740 shares of the biopharmaceutical company’s stock valued at $19,885,000 after purchasing an additional 46,574 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

Insider Buying and Selling

In other news, Director Joel S. Marcus sold 26,328 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the sale, the director now owns 39,662 shares in the company, valued at approximately $2,723,986.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $68.68, for a total value of $1,808,207.04. Following the completion of the transaction, the director now directly owns 39,662 shares in the company, valued at approximately $2,723,986.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 75,361 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $67.25, for a total transaction of $5,068,027.25. Following the sale, the chief executive officer now directly owns 1,050,309 shares in the company, valued at approximately $70,633,280.25. The disclosure for this sale can be found here. Insiders have sold a total of 311,765 shares of company stock valued at $20,860,487 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Price Performance

ITCI stock opened at $65.88 on Monday. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $76.11. The firm has a 50-day moving average of $69.03 and a 200 day moving average of $63.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its 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 for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.45) EPS. On average, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday, April 3rd. Mizuho lifted their target price on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Canaccord Genuity Group dropped their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group raised their target price on Intra-Cellular Therapies from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.42.

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.