JPMorgan Chase & Co. Sells 160,193 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

JPMorgan Chase & Co. trimmed its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,126,092 shares of the biopharmaceutical company’s stock after selling 160,193 shares during the quarter. JPMorgan Chase & Co.’s holdings in Intra-Cellular Therapies were worth $428,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. M&T Bank Corp increased its holdings in Intra-Cellular Therapies by 2.2% during the 4th quarter. M&T Bank Corp now owns 6,301 shares of the biopharmaceutical company’s stock valued at $526,000 after purchasing an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Intra-Cellular Therapies by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,951 shares of the biopharmaceutical company’s stock worth $748,000 after acquiring an additional 141 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Intra-Cellular Therapies by 5.3% in the fourth 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 during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 192 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Intra-Cellular Therapies by 0.8% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Price Performance

Intra-Cellular Therapies stock opened at $131.81 on Friday. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of -151.50 and a beta of 0.69. The company’s 50 day simple moving average is $129.12 and its 200 day simple moving average is $99.63. Intra-Cellular Therapies, Inc. has a fifty-two week low of $64.09 and a fifty-two week high of $131.87.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share 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 firm had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. As a group, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ITCI. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Canaccord Genuity Group downgraded 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 report on Friday, January 31st. Baird R W cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $132.00 price objective (up from $108.00) on shares of Intra-Cellular Therapies in a research report on Wednesday, January 22nd. Finally, Mizuho downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Intra-Cellular Therapies has an average rating of “Hold” and a consensus price target of $106.08.

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.