Seven Eight Capital LP Takes Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Seven Eight Capital LP acquired a new position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,910 shares of the biopharmaceutical company’s stock, valued at approximately $1,501,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITCI. Vanguard Personalized Indexing Management LLC raised its holdings in Intra-Cellular Therapies by 20.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,312 shares of the biopharmaceutical company’s stock worth $432,000 after purchasing an additional 1,052 shares during the period. Amalgamated Bank increased its position in Intra-Cellular Therapies by 117.3% in the second quarter. Amalgamated Bank now owns 6,922 shares of the biopharmaceutical company’s stock worth $474,000 after buying an additional 3,736 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Intra-Cellular Therapies during the 2nd quarter valued at about $1,420,000. Renaissance Technologies LLC lifted its position in shares of Intra-Cellular Therapies by 130.0% during the 2nd quarter. Renaissance Technologies LLC now owns 222,400 shares of the biopharmaceutical company’s stock valued at $15,232,000 after buying an additional 125,700 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Intra-Cellular Therapies by 21.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,492 shares of the biopharmaceutical company’s stock valued at $2,431,000 after acquiring an additional 6,382 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ITCI. The Goldman Sachs Group lowered their price target on shares of Intra-Cellular Therapies from $77.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $130.00 target price on shares of Intra-Cellular Therapies in a research note on Monday. JPMorgan Chase & Co. increased their price target on Intra-Cellular Therapies from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Mizuho increased their target price on Intra-Cellular Therapies from $96.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Canaccord Genuity Group boosted their price target on Intra-Cellular Therapies from $107.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.58.

Intra-Cellular Therapies Stock Up 3.0 %

ITCI stock opened at $76.97 on Friday. Intra-Cellular Therapies, Inc. has a 52 week low of $45.50 and a 52 week high of $84.89. The stock has a market capitalization of $8.13 billion, a P/E ratio of -66.35 and a beta of 1.00. The firm has a 50-day simple moving average of $75.68 and a 200-day simple moving average of $71.37.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $157.74 million. During the same period in the prior year, the company earned ($0.45) EPS. The firm’s revenue was up 45.7% compared to the same quarter last year. On average, analysts expect that Intra-Cellular Therapies, Inc. will post -0.59 earnings per share for the current year.

Insider Transactions at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 34,396 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,070,329 shares of the company’s stock, valued at approximately $77,962,764.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Rory B. Riggs sold 4,462 shares of Intra-Cellular Therapies stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.57, for a total value of $337,193.34. Following the transaction, the director now directly owns 116,600 shares of the company’s stock, valued at approximately $8,811,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sharon Mates sold 34,396 shares of Intra-Cellular Therapies stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $77,962,764.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,778 shares of company stock valued at $13,374,538. Corporate 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.