Essex Investment Management Co. LLC Trims Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Essex Investment Management Co. LLC lessened its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,915 shares of the biopharmaceutical company’s stock after selling 1,470 shares during the quarter. Essex Investment Management Co. LLC owned about 0.05% of Intra-Cellular Therapies worth $4,754,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $32,000. GAMMA Investing LLC boosted its position in shares of Intra-Cellular Therapies by 46.3% during the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 240 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $74,000. Venturi Wealth Management LLC bought a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at about $96,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $97,000. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Shares of Intra-Cellular Therapies stock opened at $131.24 on Friday. The business’s 50 day simple moving average is $119.20 and its two-hundred day simple moving average is $93.55. The stock has a market capitalization of $13.95 billion, a P/E ratio of -150.85 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a one year low of $63.30 and a one year high of $131.36.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. Sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ITCI. Cantor Fitzgerald upgraded Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Piper Sandler restated a “neutral” rating and issued a $132.00 target price (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.08.

Intra-Cellular Therapies 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.