Emerald Advisers LLC Has $26.89 Million Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Emerald Advisers LLC trimmed its stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 392,591 shares of the biopharmaceutical company’s stock after selling 9,020 shares during the period. Intra-Cellular Therapies accounts for about 1.1% of Emerald Advisers LLC’s holdings, making the stock its 29th largest position. Emerald Advisers LLC’s holdings in Intra-Cellular Therapies were worth $26,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kapitalo Investimentos Ltda acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $32,000. Fidelis Capital Partners LLC acquired a new stake in shares of Intra-Cellular Therapies during the 1st quarter worth approximately $53,000. Summit Securities Group LLC bought a new stake in shares of Intra-Cellular Therapies during the second quarter valued at approximately $56,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Intra-Cellular Therapies in the fourth quarter valued at $78,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $73.54 on Friday. The stock has a fifty day moving average price of $75.08 and a two-hundred day moving average price of $71.16. The company 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 52-week low of $45.50 and a 52-week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share (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 business had revenue of $161.40 million during the quarter, compared to analysts’ expectations of $157.74 million. During the same period in the previous year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. As a group, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

ITCI has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of 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. Piper Sandler upgraded shares of Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $92.00 in a research report on Friday. Cantor Fitzgerald upped their target price on shares of Intra-Cellular Therapies from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Mizuho raised their price target on shares of Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Canaccord Genuity Group upped their price objective on Intra-Cellular Therapies from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and an average target price of $96.58.

Insiders Place Their Bets

In other news, CEO Sharon Mates sold 34,396 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $72.84, for a total transaction of $2,505,404.64. Following the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $77,962,764.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sharon Mates sold 34,396 shares of the business’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 owns 1,070,329 shares in the company, valued at $77,962,764.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of the company’s 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 transaction, the director now directly owns 9,690 shares in the company, valued at approximately $735,567.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,778 shares of company stock valued at $14,892,738. Insiders own 3.40% of the company’s stock.

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.