Entropy Technologies LP Acquires Shares of 7,116 Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Entropy Technologies LP bought a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,116 shares of the biopharmaceutical company’s stock, valued at approximately $521,000.

Several other hedge funds have also recently modified their holdings of ITCI. Versor Investments LP purchased a new stake in Intra-Cellular Therapies during the 3rd quarter worth approximately $257,000. State of New Jersey Common Pension Fund D increased its position in shares of Intra-Cellular Therapies by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,673 shares of the biopharmaceutical company’s stock worth $2,610,000 after purchasing an additional 223 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Intra-Cellular Therapies by 6.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock valued at $32,055,000 after purchasing an additional 26,600 shares during the last quarter. Covestor Ltd lifted its holdings in Intra-Cellular Therapies by 40.4% in the 3rd quarter. Covestor Ltd now owns 1,811 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 521 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in Intra-Cellular Therapies by 41.1% during the 3rd quarter. Atria Investments Inc now owns 5,137 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 1,497 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 53,013 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $75.65, for a total value of $4,010,433.45. Following the completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $80,970,388.85. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,471 shares of company stock valued at $13,670,383. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ITCI has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price 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. Royal Bank of Canada raised their target price on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. UBS Group cut their price target on Intra-Cellular Therapies from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price objective on Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and an average target price of $97.23.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $83.42 on Friday. The firm’s 50-day moving average is $78.07 and its two-hundred day moving average is $74.21. Intra-Cellular Therapies, Inc. has a 1 year low of $54.17 and a 1 year high of $93.45. The firm has a market capitalization of $8.84 billion, a PE ratio of -95.88 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its 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). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The business had revenue of $175.40 million for the quarter, compared to analyst estimates of $172.30 million. During the same quarter last year, the company earned ($0.25) earnings per share. Intra-Cellular Therapies’s quarterly revenue was up 39.0% compared to the same quarter last year. Analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

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.