Central Pacific Bank Trust Division Acquires New Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Central Pacific Bank Trust Division bought a new position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in the first quarter, Holdings Channel reports. The firm bought 3,350 shares of the biopharmaceutical company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $26,000. Signaturefd LLC boosted its holdings in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth about $45,000. Fidelis Capital Partners LLC bought a new stake in shares of Intra-Cellular Therapies in the 1st quarter valued at about $53,000. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at approximately $78,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Up 3.5 %

Shares of NASDAQ ITCI traded up $2.51 during trading hours on Tuesday, hitting $74.07. The company had a trading volume of 1,009,852 shares, compared to its average volume of 1,036,022. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89. The firm’s 50 day moving average is $68.96 and its 200-day moving average is $69.26. The stock has a market capitalization of $7.82 billion, a P/E ratio of -63.85 and a beta of 1.01.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. The firm had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative net margin of 21.57% and a negative return on equity of 18.49%. The company’s revenue for the quarter was up 52.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.46) earnings per share. On average, sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Rory B. Riggs sold 4,462 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total transaction of $337,193.34. Following the completion of the sale, the director now directly owns 116,600 shares in the company, valued at approximately $8,811,462. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Nostrand Robert L. Van sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.91, for a total transaction of $1,518,200.00. Following the completion of the sale, the director now owns 9,690 shares in the company, valued at $735,567.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rory B. Riggs sold 4,462 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.57, for a total value of $337,193.34. Following the completion of the transaction, the director now owns 116,600 shares in the company, valued at $8,811,462. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America upped their target price on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. UBS Group reaffirmed a “neutral” rating and set a $83.00 price objective (down previously from $85.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $103.00 target price on shares of Intra-Cellular Therapies in a research note on Tuesday, June 25th. The Goldman Sachs Group raised their price target on Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, 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 note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.33.

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.