Phocas Financial Corp. Acquires New Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Phocas Financial Corp. purchased a new stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,210 shares of the biopharmaceutical company's stock, valued at approximately $1,949,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new position in Intra-Cellular Therapies during the fourth quarter valued at about $266,000. DekaBank Deutsche Girozentrale boosted its position in Intra-Cellular Therapies by 26.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 51,997 shares of the biopharmaceutical company's stock worth $3,791,000 after purchasing an additional 11,000 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Intra-Cellular Therapies by 42.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 9,168 shares of the biopharmaceutical company's stock worth $657,000 after purchasing an additional 2,743 shares during the period. International Assets Investment Management LLC bought a new position in Intra-Cellular Therapies during the fourth quarter worth about $51,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Intra-Cellular Therapies by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,133 shares of the biopharmaceutical company's stock worth $797,000 after purchasing an additional 8,668 shares during the period. Institutional investors own 92.33% of the company's stock.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI traded down $1.12 during mid-day trading on Monday, hitting $64.76. The stock had a trading volume of 503,322 shares, compared to its average volume of 752,153. Intra-Cellular Therapies, Inc. has a 1 year low of $45.50 and a 1 year high of $76.11. The business has a 50 day moving average price of $68.95 and a two-hundred day moving average price of $63.53. The firm has a market cap of $6.27 billion, a P/E ratio of -44.36 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The company had revenue of $132.10 million for the quarter, compared to the consensus estimate of $135.97 million. During the same period in the previous year, the firm earned ($0.45) earnings per share. The firm's revenue for the quarter was up 50.3% on a year-over-year basis. Equities research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITCI has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of Intra-Cellular Therapies from $76.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $101.00 target price on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Bank of America lifted their price target on shares of Intra-Cellular Therapies from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, January 2nd. Canaccord Genuity Group decreased their price target on shares of Intra-Cellular Therapies from $101.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $81.42.

Insider Buying and Selling

In related news, CEO Sharon Mates sold 67,917 shares of Intra-Cellular Therapies stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $65.19, for a total value of $4,427,509.23. Following the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at $68,469,643.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sharon Mates sold 67,917 shares of the business's stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $65.19, for a total transaction of $4,427,509.23. Following the sale, the chief executive officer now owns 1,050,309 shares in the company, valued at approximately $68,469,643.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Halstead sold 7,907 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $69.53, for a total transaction of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold a total of 311,765 shares of company stock valued at $20,860,487 over the last three months. 3.40% of the stock is owned by company insiders.

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.