Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 43.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,611 shares of the biopharmaceutical company’s stock after selling 7,488 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Intra-Cellular Therapies were worth $803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $32,000. GAMMA Investing LLC boosted its stake in shares of Intra-Cellular Therapies by 46.3% during the fourth quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 240 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Intra-Cellular Therapies during the fourth quarter valued at approximately $96,000. Wilmington Savings Fund Society FSB bought a new position in shares of Intra-Cellular Therapies during the third quarter valued at approximately $97,000. Finally, Quarry LP boosted its stake 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 valued at $132,000 after purchasing an additional 1,300 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors.

Intra-Cellular Therapies Trading Up 0.0 %

NASDAQ ITCI opened at $131.65 on Friday. The company has a fifty day simple moving average of $128.61 and a two-hundred day simple moving average of $97.41. The stock has a market cap 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.

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 the consensus estimate 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 business had revenue of $199.22 million for the quarter, compared to analysts’ expectations of $205.08 million. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. 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. Royal Bank of Canada restated a “sector perform” rating and issued a $132.00 target price (up from $108.00) on shares of Intra-Cellular Therapies in a research note on Wednesday, January 22nd. Mizuho downgraded shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $132.00 in a research note on Monday, February 24th. Finally, Leerink Partnrs downgraded shares of 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies presently has an average rating of “Hold” and an average target price of $106.08.

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.