First Mercantile Trust Co. Buys 1,586 Shares of Intra-Cellular Therapies Inc. (ITCI)
First Mercantile Trust Co. increased its stake in shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) by 25.9% during the second quarter, Holdings Channel reports. The institutional investor owned 7,700 shares of the biopharmaceutical company’s stock after buying an additional 1,586 shares during the period. First Mercantile Trust Co.’s holdings in Intra-Cellular Therapies were worth $299,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Intra-Cellular Therapies by 2.6% in the first quarter. BlackRock Fund Advisors now owns 970,940 shares of the biopharmaceutical company’s stock valued at $26,992,000 after buying an additional 24,482 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Intra-Cellular Therapies by 2.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,100,000 shares of the biopharmaceutical company’s stock valued at $30,580,000 after buying an additional 23,538 shares in the last quarter. Royce & Associates LP bought a new stake in shares of Intra-Cellular Therapies during the second quarter valued at about $299,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Intra-Cellular Therapies during the first quarter valued at about $1,480,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Intra-Cellular Therapies by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 177,317 shares of the biopharmaceutical company’s stock valued at $6,884,000 after buying an additional 28,467 shares in the last quarter. Institutional investors and hedge funds own 70.15% of the company’s stock.
Shares of Intra-Cellular Therapies Inc. (NASDAQ:ITCI) opened at 15.24 on Friday. Intra-Cellular Therapies Inc. has a 52 week low of $14.44 and a 52 week high of $59.96. The firm’s market capitalization is $659.15 million. The firm’s 50-day moving average price is $40.24 and its 200 day moving average price is $37.16.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.08. The company had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.02 million. The business’s revenue was up 283.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.61) earnings per share. On average, analysts anticipate that Intra-Cellular Therapies Inc. will post ($3.19) EPS for the current year.
ITCI has been the topic of several recent research reports. Piper Jaffray Cos. restated an “overweight” rating and issued a $57.00 price objective on shares of Intra-Cellular Therapies in a research report on Tuesday, September 13th. Royal Bank Of Canada dropped their target price on Intra-Cellular Therapies from $74.00 to $49.00 and set an “outperform” rating for the company in a research note on Thursday. Leerink Swann reiterated a “buy” rating on shares of Intra-Cellular Therapies in a research note on Wednesday, June 22nd. Zacks Investment Research upgraded Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Wednesday, June 29th. Finally, SunTrust Banks Inc. lowered Intra-Cellular Therapies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $60.00 to $15.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Intra-Cellular Therapies has a consensus rating of “Hold” and a consensus target price of $42.00.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (CNS).
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