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

Everence Capital Management Inc. purchased a new stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,990 shares of the biopharmaceutical company’s stock, valued at approximately $250,000.

A number of other hedge funds also recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in Intra-Cellular Therapies in the third quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in shares of Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 240 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $74,000. Wilmington Savings Fund Society FSB bought a new stake in Intra-Cellular Therapies during the third quarter worth approximately $97,000. Finally, Quarry LP lifted its position in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $82.56 on Thursday. The firm’s 50 day moving average price is $85.50 and its two-hundred day moving average price is $78.58. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of -94.90 and a beta of 0.70. Intra-Cellular Therapies, Inc. has a twelve month low of $62.78 and a twelve month high of $93.45.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analysts’ expectations of $172.30 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Intra-Cellular Therapies’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same period last year, the company earned ($0.25) earnings per share. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In other Intra-Cellular Therapies news, President Michael Halstead sold 22,869 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total transaction of $2,038,085.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at $91,834,228.20. This represents a 4.55 % decrease in their position. 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.