Intra-Cellular Therapies Sees Unusually High Options Volume (ITCI)

Intra-Cellular Therapies Inc (NASDAQ:ITCI) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 2,023 call options on the company. This is an increase of 1,614% compared to the average daily volume of 118 call options.

ITCI has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Saturday, January 20th. Cantor Fitzgerald restated a “buy” rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Thursday, March 1st. Cowen restated a “buy” rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, March 2nd. SunTrust Banks restated a “buy” rating and set a $28.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, March 2nd. Finally, Canaccord Genuity set a $31.00 price target on shares of Intra-Cellular Therapies and gave the company a “buy” rating in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Intra-Cellular Therapies currently has an average rating of “Buy” and an average target price of $28.27.

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NASDAQ ITCI opened at $19.46 on Friday. Intra-Cellular Therapies has a 1 year low of $7.85 and a 1 year high of $25.82. The company has a market capitalization of $1,114.39, a price-to-earnings ratio of -9.18 and a beta of 0.59.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.06). Intra-Cellular Therapies had a negative return on equity of 26.67% and a negative net margin of 39,745.53%. The firm had revenue of $5.06 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the prior year, the company earned ($0.64) earnings per share. The business’s revenue for the quarter was down 94.8% compared to the same quarter last year. equities analysts anticipate that Intra-Cellular Therapies will post -3.33 earnings per share for the current fiscal year.

In related news, VP Lawrence J. Hineline sold 49,700 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $20.02, for a total transaction of $994,994.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Halstead sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $18.03, for a total transaction of $459,765.00. Following the sale, the senior vice president now owns 191 shares in the company, valued at $3,443.73. The disclosure for this sale can be found here. 19.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Intra-Cellular Therapies by 21.5% in the 4th quarter. BlackRock Inc. now owns 4,002,920 shares of the biopharmaceutical company’s stock worth $57,962,000 after purchasing an additional 709,048 shares in the last quarter. Millennium Management LLC lifted its stake in Intra-Cellular Therapies by 18.0% in the 4th quarter. Millennium Management LLC now owns 1,454,944 shares of the biopharmaceutical company’s stock worth $21,068,000 after purchasing an additional 221,980 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Intra-Cellular Therapies by 45.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the biopharmaceutical company’s stock worth $14,817,000 after purchasing an additional 291,793 shares in the last quarter. Deutsche Bank AG lifted its stake in Intra-Cellular Therapies by 16.4% in the 4th quarter. Deutsche Bank AG now owns 778,776 shares of the biopharmaceutical company’s stock worth $11,274,000 after purchasing an additional 109,636 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Intra-Cellular Therapies by 43.3% in the 4th quarter. Renaissance Technologies LLC now owns 575,300 shares of the biopharmaceutical company’s stock worth $8,330,000 after purchasing an additional 173,700 shares in the last quarter. Institutional investors and hedge funds own 70.47% of the company’s stock.

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About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases. The company is developing its lead drug candidate, lumateperone, known as ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in patients with dementia, and other neuropsychiatric and neurological disorders.

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