Rhenman & Partners Asset Management AB Has $14.70 Million Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Rhenman & Partners Asset Management AB reduced its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,000 shares of the biopharmaceutical company’s stock after selling 29,500 shares during the period. Intra-Cellular Therapies comprises about 1.5% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 25th largest position. Rhenman & Partners Asset Management AB owned approximately 0.17% of Intra-Cellular Therapies worth $14,700,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in 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 acquiring an additional 240 shares during the period. Venturi Wealth Management LLC bought a new stake in Intra-Cellular Therapies during the 4th quarter worth approximately $96,000. Wilmington Savings Fund Society FSB bought a new stake in Intra-Cellular Therapies in the 3rd quarter valued at $97,000. Quarry LP boosted its position in shares of 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 buying an additional 1,300 shares during the period. Finally, Barlow Wealth Partners Inc. bought a new position in shares of Intra-Cellular Therapies during the 4th quarter worth approximately $184,000. 92.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ITCI shares. Mizuho lowered shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $140.00 to $132.00 in a research report on Monday, February 24th. Baird R W cut shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note 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. Leerink Partnrs lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, StockNews.com assumed coverage on shares of Intra-Cellular Therapies in a report on Saturday. They set a “hold” rating for the company. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.23.

Intra-Cellular Therapies Price Performance

Shares of NASDAQ:ITCI opened at $131.87 on Friday. Intra-Cellular Therapies, Inc. has a twelve month low of $64.09 and a twelve month high of $131.98. The company has a 50-day moving average price of $129.62 and a two-hundred day moving average price of $101.43. The firm has a market capitalization of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) 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 net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share 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.