Lord Abbett & CO. LLC Trims Holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Lord Abbett & CO. LLC reduced its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 516,719 shares of the biopharmaceutical company’s stock after selling 112,120 shares during the period. Lord Abbett & CO. LLC owned 0.49% of Intra-Cellular Therapies worth $43,157,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Intra-Cellular Therapies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 9,721,360 shares of the biopharmaceutical company’s stock worth $811,928,000 after acquiring an additional 93,107 shares during the period. Norges Bank acquired a new position in Intra-Cellular Therapies in the fourth quarter valued at $268,347,000. Invesco Ltd. lifted its position in Intra-Cellular Therapies by 2.9% during the fourth quarter. Invesco Ltd. now owns 3,077,174 shares of the biopharmaceutical company’s stock worth $257,006,000 after buying an additional 87,582 shares during the period. Franklin Resources Inc. boosted its stake in Intra-Cellular Therapies by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 1,776,880 shares of the biopharmaceutical company’s stock worth $148,405,000 after buying an additional 23,594 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Intra-Cellular Therapies by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,716,829 shares of the biopharmaceutical company’s stock valued at $143,434,000 after buying an additional 8,528 shares during the period. Institutional investors and hedge funds own 92.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ITCI shares. 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. Piper Sandler restated a “neutral” rating and set a $132.00 price target (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. StockNews.com assumed coverage on Intra-Cellular Therapies in a research note on Monday, April 21st. They issued a “hold” rating on the stock. Leerink Partnrs downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Mizuho cut shares of Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $132.00 in a research report on Monday, February 24th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intra-Cellular Therapies currently has a consensus rating of “Hold” and an average target price of $109.70.

Intra-Cellular Therapies Price Performance

NASDAQ:ITCI opened at $131.87 on Friday. Intra-Cellular Therapies, Inc. has a 1-year low of $64.09 and a 1-year high of $131.98. The stock has a market cap of $14.05 billion, a P/E ratio of -151.57 and a beta of 0.69. The firm has a 50-day moving average of $131.16 and a two-hundred day moving average of $108.03.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) EPS 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 analysts’ expectations of $205.08 million. As a group, equities analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current year.

Intra-Cellular Therapies Company 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.