Price T Rowe Associates Inc. MD Sells 452,549 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Price T Rowe Associates Inc. MD trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 43.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,906 shares of the biopharmaceutical company’s stock after selling 452,549 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Intra-Cellular Therapies were worth $49,270,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in Intra-Cellular Therapies by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company’s stock worth $1,878,000 after purchasing an additional 2,157 shares in the last quarter. Barclays PLC increased its holdings in shares of Intra-Cellular Therapies by 282.0% during the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock worth $2,521,000 after purchasing an additional 25,435 shares during the period. Oak Ridge Investments LLC raised its position in shares of Intra-Cellular Therapies by 74.1% in the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company’s stock valued at $1,656,000 after buying an additional 8,440 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intra-Cellular Therapies by 3.3% in the third quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after buying an additional 18,865 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Intra-Cellular Therapies during the fourth quarter worth approximately $206,000. Institutional investors own 92.33% of the company’s stock.

Analysts Set New Price Targets

ITCI has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on Intra-Cellular Therapies in a research report on Tuesday. They set a “hold” rating for the company. Leerink Partnrs cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Baird R W lowered shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $132.00 price target (up previously from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.70.

Intra-Cellular Therapies Stock Performance

Shares of NASDAQ:ITCI opened at $131.87 on Wednesday. Intra-Cellular Therapies, Inc. has a 52-week low of $64.09 and a 52-week high of $131.98. The company has a market capitalization of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. The company has a fifty day moving average of $131.29 and a 200-day moving average of $109.06.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its 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 firm had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. On average, equities analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal year.

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.