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

DnB Asset Management AS cut its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,569 shares of the biopharmaceutical company's stock after selling 10,497 shares during the period. DnB Asset Management AS owned 0.08% of Intra-Cellular Therapies worth $7,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC acquired a new stake in Intra-Cellular Therapies in the third quarter valued at $32,000. GAMMA Investing LLC increased its holdings in shares of Intra-Cellular Therapies by 46.3% in 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. Venturi Wealth Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the 4th quarter worth about $96,000. Wilmington Savings Fund Society FSB purchased a new stake in Intra-Cellular Therapies during the third quarter worth approximately $97,000. Finally, Quarry LP boosted its holdings in Intra-Cellular Therapies by 260.0% in the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company's stock valued at $132,000 after purchasing an additional 1,300 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ITCI shares. Mizuho downgraded shares of Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $140.00 to $132.00 in a research report on Monday, February 24th. Baird R W cut Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $132.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and raised their target price for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $106.23.

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Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI remained flat at $131.87 during trading on Friday. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of -151.57 and a beta of 0.69. The firm has a 50-day moving average price of $129.53 and a 200-day moving average price of $101.03. Intra-Cellular Therapies, Inc. has a 52 week low of $64.09 and a 52 week high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly 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). The firm had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. As a group, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal 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.