TIAA CREF Investment Management LLC decreased its position in Intra-Cellular Therapies Inc. (NASDAQ:ITCI) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,080 shares of the biopharmaceutical company’s stock after selling 2,179 shares during the period. TIAA CREF Investment Management LLC owned about 0.32% of Intra-Cellular Therapies worth $2,276,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Highbridge Capital Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the fourth quarter worth about $166,000. Nine Chapters Capital Management LLC acquired a new stake in shares of Intra-Cellular Therapies during the first quarter worth about $166,000. American International Group Inc. raised its stake in shares of Intra-Cellular Therapies by 7.1% in the first quarter. American International Group Inc. now owns 21,130 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 1,396 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Intra-Cellular Therapies during the first quarter worth about $384,000. Finally, Bank of Montreal Can raised its stake in shares of Intra-Cellular Therapies by 699.4% in the first quarter. Bank of Montreal Can now owns 29,105 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 25,464 shares during the last quarter. 67.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intra-Cellular Therapies Inc. (NASDAQ ITCI) traded up 3.37% during mid-day trading on Friday, reaching $11.35. The company had a trading volume of 232,100 shares. The company’s market capitalization is $492.82 million. The company’s 50-day moving average price is $11.94 and its 200-day moving average price is $12.69. Intra-Cellular Therapies Inc. has a 52-week low of $7.85 and a 52-week high of $45.20.
Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.12. Intra-Cellular Therapies had a negative net margin of 27,180.94% and a negative return on equity of 29.74%. The business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter last year, the company earned ($0.64) earnings per share. On average, analysts forecast that Intra-Cellular Therapies Inc. will post ($3.03) earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on ITCI. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, May 16th. Leerink Swann lowered Intra-Cellular Therapies from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $29.00 to $10.00 in a report on Tuesday, May 2nd. Cantor Fitzgerald set a $29.00 price objective on Intra-Cellular Therapies and gave the company a “buy” rating in a report on Thursday, May 11th. BidaskClub lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, ValuEngine lowered Intra-Cellular Therapies from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.50.
Intra-Cellular Therapies Company Profile
Intra-Cellular Therapies, Inc (ITI) is a biopharmaceutical company. The Company is focused on the discovery and clinical development of small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system (CNS).
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