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

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares saw strong trading volume on Tuesday . 3,574,748 shares traded hands during mid-day 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.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating and set a $100.00 target price on shares of Intra-Cellular Therapies in a research report on Monday. Leerink Partnrs cut Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their price target on shares of Intra-Cellular Therapies from $106.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Morgan Stanley increased their target price 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. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

Intra-Cellular Therapies Stock Performance

The company has a market capitalization of $13.39 billion, a PE ratio of -145.12 and a beta of 0.70. The company has a 50 day moving average price of $87.89 and a 200 day moving average price of $80.00.

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

Insider Activity at Intra-Cellular Therapies

In other news, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction that occurred on 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 the SEC website. Also, CEO Sharon Mates sold 51,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,070,329 shares in the company, valued at $91,834,228.20. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Oak Ridge Investments LLC grew its position 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 worth $1,656,000 after acquiring an additional 8,440 shares during the last quarter. Merit Financial Group LLC acquired a new position in Intra-Cellular Therapies during the 4th quarter valued at about $206,000. Avanza Fonder AB bought a new position in Intra-Cellular Therapies in the 4th quarter worth about $254,000. Park Avenue Securities LLC increased its stake in shares of Intra-Cellular Therapies by 21.3% in the fourth quarter. Park Avenue Securities LLC now owns 6,293 shares of the biopharmaceutical company’s stock valued at $526,000 after purchasing an additional 1,103 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Intra-Cellular Therapies by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 192 shares during the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

About Intra-Cellular Therapies

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.