Intra-Cellular Therapies Target of Unusually High Options Trading (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the target of some unusual options trading activity on Friday. Investors acquired 5,021 call options on the company. This is an increase of approximately 380% compared to the average daily volume of 1,046 call options.

Analysts Set New Price Targets

ITCI has been the topic of several research reports. Canaccord Genuity Group lowered shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and upped their price objective for the company from $119.00 to $132.00 in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho downgraded shares of 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. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies has a consensus rating of “Hold” and a consensus price target of $106.08.

Insider Activity at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $85.80, for a total value of $4,375,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,329 shares of the company’s stock, valued at approximately $91,834,228.20. This represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Intra-Cellular Therapies by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 670 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Intra-Cellular Therapies by 185.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,810 shares of the biopharmaceutical company’s stock valued at $645,000 after purchasing an additional 5,725 shares during the period. abrdn plc grew its holdings in Intra-Cellular Therapies by 7.5% in the third quarter. abrdn plc now owns 250,963 shares of the biopharmaceutical company’s stock valued at $18,363,000 after purchasing an additional 17,612 shares during the period. Pinnacle Associates Ltd. boosted its stake in shares of Intra-Cellular Therapies by 3.0% in the third quarter. Pinnacle Associates Ltd. now owns 176,124 shares of the biopharmaceutical company’s stock worth $12,614,000 after acquiring an additional 5,055 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Intra-Cellular Therapies by 3.3% in the third quarter. US Bancorp DE now owns 7,951 shares of the biopharmaceutical company’s stock worth $582,000 after acquiring an additional 251 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Trading Down 0.1 %

ITCI traded down $0.07 during trading on Friday, reaching $128.18. The stock had a trading volume of 247,857 shares, compared to its average volume of 3,815,055. The stock’s 50 day moving average is $113.68 and its two-hundred day moving average is $91.13. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of -147.30 and a beta of 0.72. Intra-Cellular Therapies has a one year low of $63.30 and a one year high of $129.00.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced 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). The firm had revenue of $199.22 million during the quarter, compared to analysts’ expectations of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. On average, equities research analysts predict that Intra-Cellular Therapies 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.