Simplify Asset Management Inc. Sells 10,615 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Simplify Asset Management Inc. trimmed its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 34.4% in the fourth quarter, Holdings Channel reports. The fund owned 20,268 shares of the biopharmaceutical company’s stock after selling 10,615 shares during the quarter. Simplify Asset Management Inc.’s holdings in Intra-Cellular Therapies were worth $1,693,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC bought a new position in Intra-Cellular Therapies in the third quarter valued at about $32,000. GAMMA Investing LLC raised its holdings in Intra-Cellular Therapies by 46.3% in the 4th quarter. GAMMA Investing LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 240 shares during the last quarter. Venturi Wealth Management LLC acquired 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 during the 3rd quarter worth approximately $97,000. Finally, Quarry LP increased its position in Intra-Cellular Therapies by 260.0% in the 3rd quarter. Quarry LP now owns 1,800 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,300 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ITCI. Royal Bank of Canada reiterated 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. Baird R W lowered Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $132.00 price objective (up from $107.00) on shares of Intra-Cellular Therapies in a research report on Tuesday, January 14th. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.08.

Intra-Cellular Therapies Stock Up 0.0 %

NASDAQ:ITCI opened at $131.65 on Friday. Intra-Cellular Therapies, Inc. has a twelve month low of $64.09 and a twelve month high of $131.67. The company has a fifty day moving average of $128.61 and a 200-day moving average of $97.59. The firm has a market capitalization of $14.00 billion, a P/E ratio of -151.32 and a beta of 0.69.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings data on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The company had revenue of $199.22 million for the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. On average, analysts anticipate that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current fiscal 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.