Algert Global LLC Sells 20,489 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Algert Global LLC lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 45.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,861 shares of the biopharmaceutical company’s stock after selling 20,489 shares during the quarter. Algert Global LLC’s holdings in Intra-Cellular Therapies were worth $2,076,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ITCI. Norges Bank bought a new position in Intra-Cellular Therapies in the fourth quarter worth $268,347,000. Raymond James Financial Inc. acquired a new position in shares of Intra-Cellular Therapies in the 4th quarter valued at $76,451,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Intra-Cellular Therapies by 266.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock valued at $56,627,000 after acquiring an additional 493,000 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in Intra-Cellular Therapies by 91.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock valued at $70,179,000 after acquiring an additional 402,186 shares during the period. Finally, Ally Bridge Group NY LLC bought a new stake in Intra-Cellular Therapies in the fourth quarter valued at about $12,340,000. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ITCI shares. Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $132.00 price objective on shares of Intra-Cellular Therapies in a research note on Wednesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their target price for the stock from $119.00 to $132.00 in a report on Friday, January 31st. Finally, StockNews.com started coverage on shares of Intra-Cellular Therapies in a report on Wednesday. They set a “hold” rating for the company. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $109.70.

Intra-Cellular Therapies Stock Performance

ITCI opened at $131.87 on Friday. Intra-Cellular Therapies, Inc. has a 1-year low of $64.09 and a 1-year high of $131.98. The stock has a market capitalization of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. The firm has a 50-day moving average price of $131.71 and a two-hundred day moving average price of $111.51.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly 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 company had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. On average, research analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

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.