DnB Asset Management AS Trims Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

DnB Asset Management AS lowered its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,569 shares of the biopharmaceutical company’s stock after selling 10,497 shares during the period. DnB Asset Management AS owned approximately 0.08% of Intra-Cellular Therapies worth $7,314,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Intra-Cellular Therapies during the 3rd quarter valued at $32,000. GAMMA Investing LLC raised its stake 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 purchasing an additional 240 shares during the period. Venturi Wealth Management LLC purchased a new stake in Intra-Cellular Therapies during the 4th quarter worth about $96,000. Wilmington Savings Fund Society FSB bought a new position in Intra-Cellular Therapies in the 3rd quarter worth about $97,000. Finally, Quarry LP grew its holdings in Intra-Cellular Therapies by 260.0% during the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,300 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Stock Performance

Shares of ITCI opened at $131.81 on Monday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $64.09 and a fifty-two week high of $131.87. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of -151.50 and a beta of 0.69. The firm has a 50 day moving average price of $129.12 and a 200-day moving average price of $99.80.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ITCI shares. Leerink Partnrs lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Mizuho lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.