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

Intra-Cellular Therapies Inc (NASDAQ:ITCI) was the recipient of some unusual options trading on Monday. Traders purchased 6,203 put options on the stock. This is an increase of 1,996% compared to the typical daily volume of 296 put options.

Shares of ITCI stock opened at $13.82 on Wednesday. The firm has a market capitalization of $790.80 million, a P/E ratio of -6.52 and a beta of 1.10. Intra-Cellular Therapies has a twelve month low of $13.78 and a twelve month high of $25.82.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.09. As a group, analysts predict that Intra-Cellular Therapies will post -3.03 EPS for the current year.

ITCI has been the topic of several research analyst reports. Zacks Investment Research raised Intra-Cellular Therapies from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, October 16th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $32.00 price target on shares of Intra-Cellular Therapies in a research note on Thursday, October 4th. Leerink Swann reaffirmed an “outperform” rating on shares of Intra-Cellular Therapies in a research note on Friday, October 19th. BidaskClub cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, ValuEngine cut Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $28.25.

In other news, Director Joel S. Marcus sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $18.24, for a total transaction of $456,000.00. Following the transaction, the director now directly owns 21,671 shares of the company’s stock, valued at $395,279.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joel S. Marcus sold 32,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $18.17, for a total value of $581,440.00. Following the transaction, the director now directly owns 21,671 shares in the company, valued at $393,762.07. The disclosure for this sale can be found here. 17.40% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP grew its stake in Intra-Cellular Therapies by 5,520.7% in the third quarter. Quantbot Technologies LP now owns 4,609 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 4,527 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Intra-Cellular Therapies by 127.8% in the third quarter. Public Employees Retirement Association of Colorado now owns 5,687 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 3,190 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Intra-Cellular Therapies in the second quarter worth $167,000. Cubist Systematic Strategies LLC boosted its holdings in Intra-Cellular Therapies by 53.0% in the second quarter. Cubist Systematic Strategies LLC now owns 9,641 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 3,339 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Intra-Cellular Therapies by 19.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,462 shares of the biopharmaceutical company’s stock worth $362,000 after acquiring an additional 3,400 shares in the last quarter. 69.53% of the stock is currently owned by institutional investors.

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Intra-Cellular Therapies Company Profile

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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