Wasatch Advisors LP Sells 599,767 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Wasatch Advisors LP reduced its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 15.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,248,821 shares of the biopharmaceutical company’s stock after selling 599,767 shares during the period. Intra-Cellular Therapies makes up 1.3% of Wasatch Advisors LP’s holdings, making the stock its 19th biggest holding. Wasatch Advisors LP’s holdings in Intra-Cellular Therapies were worth $271,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of ITCI. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Intra-Cellular Therapies by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock worth $1,878,000 after acquiring an additional 2,157 shares during the last quarter. Barclays PLC lifted its stake in Intra-Cellular Therapies by 282.0% in the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the last quarter. Oak Ridge Investments LLC boosted its position in Intra-Cellular Therapies by 74.1% in the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock valued at $1,656,000 after buying an additional 8,440 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Intra-Cellular Therapies by 3.3% during the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock worth $43,735,000 after buying an additional 18,865 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Intra-Cellular Therapies during the fourth quarter worth $206,000. 92.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ITCI. Mizuho downgraded Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $140.00 to $132.00 in a report on Monday, February 24th. StockNews.com assumed coverage on Intra-Cellular Therapies in a research note on Sunday. They set a “hold” rating on the stock. Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price objective for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Piper Sandler reiterated a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Finally, Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $106.23.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $131.87 on Wednesday. The stock has a market capitalization of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69. The business has a 50 day simple moving average of $130.48 and a 200 day simple moving average of $104.97. Intra-Cellular Therapies, Inc. has a one year low of $64.09 and a one year high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its quarterly earnings data 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). The company had revenue of $199.22 million during the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Intra-Cellular Therapies Company 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.