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

Essex Investment Management Co. LLC trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,915 shares of the biopharmaceutical company’s stock after selling 1,470 shares during the period. Essex Investment Management Co. LLC’s holdings in Intra-Cellular Therapies were worth $4,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in Intra-Cellular Therapies by 3.0% in the third quarter. Avior Wealth Management LLC now owns 4,473 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 131 shares during the period. M&T Bank Corp grew its stake in Intra-Cellular Therapies by 2.2% in the fourth quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Intra-Cellular Therapies by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after purchasing an additional 141 shares during the period. CIBC Asset Management Inc grew its stake in Intra-Cellular Therapies by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 150 shares during the period. Finally, Pallas Capital Advisors LLC grew its stake in Intra-Cellular Therapies by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $131.24 on Friday. The company has a market cap of $13.95 billion, a P/E ratio of -150.85 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 1 year low of $63.30 and a 1 year high of $131.36. The stock’s fifty day moving average price is $119.20 and its 200-day moving average price is $93.55.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. On average, sell-side analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITCI. Piper Sandler reaffirmed a “neutral” rating and issued a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Leerink Partnrs downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. 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 report on Friday, January 31st. StockNews.com assumed coverage on Intra-Cellular Therapies in a report on Tuesday, March 4th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.