Stock Traders Purchase High Volume of Call Options on Intra-Cellular Therapies (NASDAQ:ITCI)

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) was the recipient of unusually large options trading on Friday. Stock traders bought 5,021 call options on the stock. This is an increase of 380% compared to the average daily volume of 1,046 call options.

Intra-Cellular Therapies Trading Down 0.1 %

ITCI stock traded down $0.07 during mid-day trading on Friday, hitting $128.18. 247,857 shares of the company were exchanged, compared to its average volume of 3,815,055. Intra-Cellular Therapies has a 1-year low of $63.30 and a 1-year high of $129.00. The business has a 50 day simple moving average of $113.68 and a 200-day simple moving average of $91.13. The stock has a market capitalization of $13.63 billion, a PE ratio of -147.30 and a beta of 0.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted 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). The company had revenue of $199.22 million for the quarter, compared to the consensus estimate of $205.08 million. Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. Equities research analysts expect that Intra-Cellular Therapies will post -0.64 earnings per share for the current year.

Analysts Set New Price Targets

ITCI has been the topic of a number of analyst reports. Mizuho cut Intra-Cellular Therapies from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $132.00 in a report on Monday. Piper Sandler restated a “neutral” rating and set a $132.00 target price (up from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. StockNews.com began coverage on Intra-Cellular Therapies in a research note on Monday. They issued a “hold” rating for the company. Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Canaccord Genuity Group cut shares of Intra-Cellular Therapies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intra-Cellular Therapies currently has an average rating of “Hold” and an average target price of $106.08.

Insider Buying and Selling

In other Intra-Cellular Therapies news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $85.80, for a total transaction 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 $91,834,228.20. This represents a 4.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Intra-Cellular Therapies during the 4th quarter valued at approximately $268,347,000. Raymond James Financial Inc. purchased a new stake in Intra-Cellular Therapies in the 4th quarter worth approximately $76,451,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Intra-Cellular Therapies by 266.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 678,000 shares of the biopharmaceutical company’s stock worth $56,627,000 after buying an additional 493,000 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of Intra-Cellular Therapies by 91.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 840,269 shares of the biopharmaceutical company’s stock worth $70,179,000 after buying an additional 402,186 shares during the last quarter. Finally, Deep Track Capital LP increased its holdings in shares of Intra-Cellular Therapies by 24.9% in the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $167,040,000 after buying an additional 399,307 shares during the last quarter. 92.33% of the stock is owned by institutional investors.

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.