Rhenman & Partners Asset Management AB Cuts Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Rhenman & Partners Asset Management AB cut its holdings in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,000 shares of the biopharmaceutical company's stock after selling 29,500 shares during the quarter. Intra-Cellular Therapies makes up about 1.5% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 25th biggest position. Rhenman & Partners Asset Management AB owned about 0.17% of Intra-Cellular Therapies worth $14,700,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. M&T Bank Corp increased its position 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 last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Intra-Cellular Therapies by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company's stock valued at $748,000 after purchasing an additional 141 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Intra-Cellular Therapies by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,956 shares of the biopharmaceutical company's stock worth $247,000 after acquiring an additional 150 shares in the last quarter. Pallas Capital Advisors LLC raised 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 valued at $266,000 after buying an additional 192 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Intra-Cellular Therapies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 27,565 shares of the biopharmaceutical company's stock worth $2,302,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company's stock.

Intra-Cellular Therapies Price Performance

ITCI stock remained flat at $131.87 during mid-day trading on Thursday. Intra-Cellular Therapies, Inc. has a 52-week low of $64.09 and a 52-week high of $131.98. The firm has a market cap of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. The stock's fifty day simple moving average is $130.10 and its two-hundred day simple moving average is $103.37.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last announced 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). 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, analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ITCI. StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a report on Saturday, April 5th. They issued a "hold" rating on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $132.00 target price (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Mizuho lowered Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $140.00 to $132.00 in a research report on Monday, February 24th. Leerink Partnrs cut shares of Intra-Cellular Therapies from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $106.23.

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.