Los Angeles Capital Management LLC Reduces Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Los Angeles Capital Management LLC lessened its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 8.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,024 shares of the biopharmaceutical company’s stock after selling 1,550 shares during the period. Los Angeles Capital Management LLC’s holdings in Intra-Cellular Therapies were worth $1,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITCI. Kapitalo Investimentos Ltda purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $26,000. Signaturefd LLC raised its position in shares of Intra-Cellular Therapies by 85.7% in the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 239 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Intra-Cellular Therapies in the third quarter worth $45,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intra-Cellular Therapies in the fourth quarter worth $78,000. Finally, CI Investments Inc. raised its position in shares of Intra-Cellular Therapies by 1,191.6% in the third quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Trading Up 1.4 %

Shares of ITCI opened at $76.58 on Monday. Intra-Cellular Therapies, Inc. has a 1-year low of $45.50 and a 1-year high of $84.89. The firm’s 50-day moving average price is $69.53 and its 200-day moving average price is $68.75. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of -66.02 and a beta of 0.97.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15. The business had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The business’s revenue was up 52.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.46) EPS. On average, research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on Intra-Cellular Therapies from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. TD Cowen increased their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Bank of America boosted their price objective on shares of Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $120.00 target price on shares of Intra-Cellular Therapies in a report on Friday, June 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Intra-Cellular Therapies from $67.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Moderate Buy” and a consensus target price of $92.67.

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.