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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Get Free Report) was the target of unusually large options trading activity on Friday. Stock traders acquired 5,021 call options on the company. This is an increase of approximately 380% compared to the typical daily volume of 1,046 call options.

Insider Buying and Selling

In other news, CEO Sharon Mates sold 51,000 shares of the business'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 transaction, the chief executive officer now directly owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ITCI. China Universal Asset Management Co. Ltd. boosted its stake in Intra-Cellular Therapies by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,480 shares of the biopharmaceutical company's stock worth $1,878,000 after purchasing an additional 2,157 shares during the period. Barclays PLC boosted its position in shares of Intra-Cellular Therapies by 282.0% in the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company's stock worth $2,521,000 after buying an additional 25,435 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Intra-Cellular Therapies by 31.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company's stock worth $33,258,000 after buying an additional 109,892 shares during the period. Oak Ridge Investments LLC grew its holdings in shares of Intra-Cellular Therapies by 74.1% during the fourth quarter. Oak Ridge Investments LLC now owns 19,831 shares of the biopharmaceutical company's stock valued at $1,656,000 after buying an additional 8,440 shares in the last quarter. Finally, Cynosure Group LLC raised its position in Intra-Cellular Therapies by 161.0% during the third quarter. Cynosure Group LLC now owns 14,442 shares of the biopharmaceutical company's stock valued at $1,057,000 after buying an additional 8,909 shares during the period. 92.33% of the stock is owned by hedge funds and other institutional investors.

Intra-Cellular Therapies Price Performance

Shares of ITCI traded up $3.08 during trading hours on Monday, hitting $131.28. 7,155,386 shares of the company were exchanged, compared to its average volume of 3,931,705. The firm has a fifty day simple moving average of $114.58 and a 200-day simple moving average of $91.72. The company has a market capitalization of $13.96 billion, a PE ratio of -150.89 and a beta of 0.72. Intra-Cellular Therapies has a one year low of $63.30 and a one year high of $131.35.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $205.08 million. Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. Sell-side analysts expect that Intra-Cellular Therapies will post -0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ITCI shares. Piper Sandler reissued a "neutral" rating and issued a $132.00 price target (up previously from $107.00) on shares of Intra-Cellular Therapies in a research note on Tuesday, January 14th. Cantor Fitzgerald raised shares of Intra-Cellular Therapies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Canaccord Genuity Group downgraded shares of Intra-Cellular Therapies from a "buy" rating to a "hold" rating and boosted their price target for the stock from $119.00 to $132.00 in a research report on Friday, January 31st. Mizuho cut shares of Intra-Cellular Therapies from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $140.00 to $132.00 in a report on Monday, February 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Intra-Cellular Therapies in a research note 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. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has an average rating of "Hold" and an average target price of $106.08.

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.