Rhenman & Partners Asset Management AB Sells 29,500 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Rhenman & Partners Asset Management AB lowered its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,000 shares of the biopharmaceutical company’s stock after selling 29,500 shares during the period. Intra-Cellular Therapies makes up approximately 1.5% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 25th largest position. Rhenman & Partners Asset Management AB’s holdings in Intra-Cellular Therapies were worth $14,700,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ITCI. Norges Bank purchased a new stake in Intra-Cellular Therapies in the fourth quarter worth about $268,347,000. Raymond James Financial Inc. purchased a new position in Intra-Cellular Therapies during the 4th quarter valued at $76,451,000. TimesSquare Capital Management LLC grew its stake in Intra-Cellular Therapies by 91.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock worth $70,179,000 after acquiring an additional 402,186 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Intra-Cellular Therapies by 9.7% during the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after buying an additional 155,655 shares during the period. Finally, Vanguard Group Inc. boosted its position in Intra-Cellular Therapies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock valued at $811,928,000 after acquiring an additional 93,107 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

ITCI opened at $131.87 on Friday. The firm has a market cap of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 52 week low of $64.09 and a 52 week high of $131.98. The business has a fifty day simple moving average of $129.62 and a 200-day simple moving average of $101.43.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its earnings results 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). 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 analyst estimates of $205.08 million. Sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $132.00 in a research note on Monday, February 24th. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Canaccord Genuity Group downgraded Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their target price for the company from $119.00 to $132.00 in a research report on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $106.23.

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.