Simplify Asset Management Inc. Has $1.69 Million Stock Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Simplify Asset Management Inc. lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,268 shares of the biopharmaceutical company’s stock after selling 10,615 shares during the period. Simplify Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $1,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth $76,451,000. TimesSquare Capital Management LLC increased its holdings in Intra-Cellular Therapies by 91.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock worth $70,179,000 after purchasing an additional 402,186 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Intra-Cellular Therapies by 130.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 624,759 shares of the biopharmaceutical company’s stock valued at $45,714,000 after purchasing an additional 353,723 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Intra-Cellular Therapies by 9.7% in the third quarter. Franklin Resources Inc. now owns 1,753,286 shares of the biopharmaceutical company’s stock valued at $129,463,000 after purchasing an additional 155,655 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Intra-Cellular Therapies by 3.5% during the third quarter. Wasatch Advisors LP now owns 3,848,588 shares of the biopharmaceutical company’s stock worth $281,601,000 after buying an additional 130,351 shares during the period. 92.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITCI. Royal Bank of Canada reiterated a “sector perform” rating and set a $132.00 price objective (up previously from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and raised their target price for the company from $119.00 to $132.00 in a research note on Friday, January 31st. Baird R W downgraded Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Finally, Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Ten 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. Based on data from MarketBeat, Intra-Cellular Therapies presently has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Stock Up 0.0 %

NASDAQ ITCI opened at $131.65 on Friday. The company has a market capitalization of $14.00 billion, a P/E ratio of -151.32 and a beta of 0.69. Intra-Cellular Therapies, Inc. has a 12-month low of $64.09 and a 12-month high of $131.67. The firm has a 50-day moving average price of $128.61 and a two-hundred day moving average price of $97.59.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued 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. Equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

About Intra-Cellular Therapies

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.