Granahan Investment Management LLC Sells 29,693 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Granahan Investment Management LLC lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,841 shares of the biopharmaceutical company’s stock after selling 29,693 shares during the quarter. Granahan Investment Management LLC owned approximately 0.07% of Intra-Cellular Therapies worth $5,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in Intra-Cellular Therapies in the 4th quarter valued at about $28,000. GAMMA Investing LLC lifted its position in shares of Intra-Cellular Therapies by 46.3% in the fourth 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 shares of Intra-Cellular Therapies in the fourth quarter valued at approximately $96,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Intra-Cellular Therapies during the 3rd quarter worth approximately $97,000. Finally, Covestor Ltd increased its holdings in shares of Intra-Cellular Therapies by 15.9% during the 4th quarter. Covestor Ltd now owns 2,099 shares of the biopharmaceutical company’s stock worth $175,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

Shares of Intra-Cellular Therapies stock opened at $131.87 on Friday. The company has a market cap of $14.05 billion, a PE ratio of -151.57 and a beta of 0.69. The company has a 50 day moving average of $131.73 and a 200-day moving average of $111.89. Intra-Cellular Therapies, Inc. has a 1-year low of $64.09 and a 1-year high of $131.98.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its 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 net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. Research analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ITCI. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $132.00 price target (up from $108.00) on shares of Intra-Cellular Therapies in a report on Wednesday, January 22nd. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $132.00 in a report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Intra-Cellular Therapies in a research note on Friday, February 21st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $132.00 price objective on shares of Intra-Cellular Therapies in a research report on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Intra-Cellular Therapies has a consensus rating of “Hold” and a consensus target price of $109.70.

Intra-Cellular Therapies Profile

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.