Pictet Asset Management Holding SA Cuts Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Pictet Asset Management Holding SA lessened its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,540,485 shares of the biopharmaceutical company's stock after selling 78,783 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.45% of Intra-Cellular Therapies worth $128,661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Intra-Cellular Therapies during the 3rd quarter valued at about $32,000. GAMMA Investing LLC increased its position in shares of Intra-Cellular Therapies by 46.3% in the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company's stock valued at $63,000 after buying an additional 240 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Intra-Cellular Therapies in the 4th quarter valued at $96,000. Wilmington Savings Fund Society FSB purchased a new stake in Intra-Cellular Therapies in the 3rd quarter worth $97,000. Finally, Quarry LP raised its position in Intra-Cellular Therapies by 260.0% during the third quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company's stock worth $132,000 after acquiring an additional 1,300 shares during the period. Hedge funds and other institutional investors own 92.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Canaccord Genuity Group cut shares of 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 research note on Friday, January 31st. Baird R W downgraded Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Piper Sandler reiterated a "neutral" rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $132.00 target price on shares of Intra-Cellular Therapies in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $106.23.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ ITCI traded down $0.01 during trading on Wednesday, reaching $131.91. The stock had a trading volume of 16,042,154 shares, compared to its average volume of 1,460,295. The company has a market cap of $14.05 billion, a P/E ratio of -151.62 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a fifty-two week low of $64.09 and a fifty-two week high of $131.98. The business's 50-day moving average price is $129.34 and its 200-day moving average price is $100.60.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $205.08 million. Analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS 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.