Intra-Cellular Therapies (NASDAQ:ITCI) Sees Large Volume Increase – What’s Next?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares saw an uptick in trading volume on Tuesday . 3,574,748 shares were traded during trading, a decline of 38% from the previous session’s volume of 5,797,532 shares.The stock last traded at $127.07 and had previously closed at $127.19.

Analyst Ratings Changes

ITCI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley boosted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Cantor Fitzgerald upgraded shares of Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research note on Monday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.31.

Intra-Cellular Therapies Price Performance

The firm has a fifty day moving average price of $87.89 and a 200 day moving average price of $80.00. The firm has a market capitalization of $13.39 billion, a PE ratio of -145.12 and a beta of 0.70.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Intra-Cellular Therapies had a negative return on equity of 9.93% and a negative net margin of 14.07%. The firm had revenue of $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same quarter in the previous year, the business earned ($0.25) earnings per share. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. On average, sell-side analysts expect that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insiders Place Their Bets

In related news, President Michael Halstead sold 22,869 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.12, for a total value of $2,038,085.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sharon Mates sold 51,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

Several hedge funds and other institutional investors have recently modified their holdings of ITCI. Barclays PLC boosted its position in Intra-Cellular Therapies by 282.0% during the third quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company’s stock valued at $2,521,000 after purchasing an additional 25,435 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Intra-Cellular Therapies by 31.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 454,538 shares of the biopharmaceutical company’s stock valued at $33,258,000 after buying an additional 109,892 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Intra-Cellular Therapies by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 597,713 shares of the biopharmaceutical company’s stock valued at $43,735,000 after buying an additional 18,865 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Intra-Cellular Therapies by 6.5% in the third quarter. TimesSquare Capital Management LLC now owns 438,083 shares of the biopharmaceutical company’s stock worth $32,055,000 after buying an additional 26,600 shares during 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 acquiring an additional 8,909 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other 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.