Everence Capital Management Inc. Acquires New Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Everence Capital Management Inc. acquired a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,990 shares of the biopharmaceutical company’s stock, valued at approximately $250,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Perceptive Advisors LLC grew its position in shares of Intra-Cellular Therapies by 62.6% in the second quarter. Perceptive Advisors LLC now owns 1,716,407 shares of the biopharmaceutical company’s stock valued at $117,557,000 after purchasing an additional 661,052 shares during the period. Millennium Management LLC grew its holdings in Intra-Cellular Therapies by 214.5% in the 2nd quarter. Millennium Management LLC now owns 889,102 shares of the biopharmaceutical company’s stock valued at $60,895,000 after buying an additional 606,358 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Intra-Cellular Therapies by 21.2% during the 2nd quarter. Avoro Capital Advisors LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $205,470,000 after acquiring an additional 525,000 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Intra-Cellular Therapies during the 2nd quarter worth about $34,178,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Intra-Cellular Therapies in the second quarter worth approximately $33,390,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ITCI. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Finally, Royal Bank of Canada lifted their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Intra-Cellular Therapies has an average rating of “Moderate Buy” and a consensus price target of $97.23.

Intra-Cellular Therapies Stock Down 0.8 %

Shares of NASDAQ ITCI opened at $82.56 on Thursday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $93.45. The business has a 50 day moving average price of $85.50 and a two-hundred day moving average price of $78.58. The firm has a market cap of $8.75 billion, a PE ratio of -94.90 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly 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 company had revenue of $175.40 million for the quarter, compared to the consensus estimate of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) EPS. On average, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total value of $4,375,800.00. Following the sale, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% 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.