Jaffetilchin Investment Partners LLC Reduces Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Jaffetilchin Investment Partners LLC decreased its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,196 shares of the biopharmaceutical company’s stock after selling 250 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Intra-Cellular Therapies were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oak Ridge Investments LLC acquired a new position in shares of Intra-Cellular Therapies in the second quarter valued at about $811,000. Perceptive Advisors LLC acquired a new position in Intra-Cellular Therapies in the 4th quarter worth approximately $7,735,000. SG Americas Securities LLC raised its position in Intra-Cellular Therapies by 962.7% during the 2nd quarter. SG Americas Securities LLC now owns 48,778 shares of the biopharmaceutical company’s stock worth $3,341,000 after buying an additional 44,188 shares during the last quarter. Schroder Investment Management Group lifted its stake in Intra-Cellular Therapies by 36.7% during the 4th quarter. Schroder Investment Management Group now owns 779,823 shares of the biopharmaceutical company’s stock valued at $55,851,000 after acquiring an additional 209,331 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in Intra-Cellular Therapies by 12.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,744,551 shares of the biopharmaceutical company’s stock valued at $120,723,000 after acquiring an additional 191,416 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITCI. Mizuho increased their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on Intra-Cellular Therapies from $107.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald raised their target price on Intra-Cellular Therapies from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, 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 research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Intra-Cellular Therapies Trading Up 1.4 %

Shares of ITCI stock opened at $73.28 on Friday. Intra-Cellular Therapies, Inc. has a 12-month low of $45.50 and a 12-month high of $84.89. The business’s 50 day moving average is $74.95 and its two-hundred day moving average is $71.19.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its 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 firm had revenue of $161.40 million for the quarter, compared to analyst estimates of $157.74 million. During the same quarter last year, the firm posted ($0.45) EPS. The business’s revenue was up 45.7% on a year-over-year basis. On average, equities analysts predict that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, EVP Mark Neumann sold 18,714 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $75.08, for a total transaction of $1,405,047.12. Following the completion of the sale, the executive vice president now owns 29,700 shares of the company’s stock, valued at $2,229,876. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mark Neumann sold 18,714 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $75.08, for a total value of $1,405,047.12. Following the transaction, the executive vice president now owns 29,700 shares in the company, valued at $2,229,876. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nostrand Robert L. Van sold 20,000 shares of Intra-Cellular Therapies stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total value of $1,518,200.00. Following the completion of the sale, the director now directly owns 9,690 shares in the company, valued at $735,567.90. The disclosure for this sale can be found here. Insiders have sold a total of 199,778 shares of company stock valued at $14,892,738 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Company 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.