Intra-Cellular Therapies (NASDAQ:ITCI) Sees Large Volume Increase – Time to Buy?

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares saw unusually-strong trading volume on Monday . Approximately 3,485,255 shares changed hands during trading, a decline of 9% from the previous session’s volume of 3,834,253 shares.The stock last traded at $131.29 and had previously closed at $128.20.

Analysts Set New Price Targets

A number of research firms have commented on ITCI. StockNews.com began coverage on Intra-Cellular Therapies in a report on Monday, February 24th. They issued a “hold” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Intra-Cellular Therapies from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Baird R W downgraded shares of Intra-Cellular Therapies from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Intra-Cellular Therapies in a report on Friday, February 21st. Finally, Cantor Fitzgerald raised Intra-Cellular Therapies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.08.

Intra-Cellular Therapies Stock Up 2.4 %

The firm has a market capitalization of $13.96 billion, a PE ratio of -150.88 and a beta of 0.72. The business’s fifty day moving average price is $114.58 and its 200 day moving average price is $91.72.

Intra-Cellular Therapies (NASDAQ:ITCI) last issued its quarterly earnings results on Friday, February 21st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). Intra-Cellular Therapies had a negative net margin of 14.07% and a negative return on equity of 9.93%. The business had revenue of $199.22 million during the quarter, compared to analyst estimates of $205.08 million. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intra-Cellular Therapies

A number of hedge funds have recently made changes to their positions in ITCI. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Intra-Cellular Therapies during the fourth quarter valued at approximately $7,951,000. GF Fund Management CO. LTD. acquired a new position in Intra-Cellular Therapies during the 4th quarter worth $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Intra-Cellular Therapies by 3.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,319 shares of the biopharmaceutical company’s stock worth $28,006,000 after purchasing an additional 12,111 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Intra-Cellular Therapies in the 4th quarter valued at about $11,966,000. Finally, Two Sigma Investments LP lifted its position in shares of Intra-Cellular Therapies by 507.9% during the fourth quarter. Two Sigma Investments LP now owns 142,791 shares of the biopharmaceutical company’s stock worth $11,926,000 after purchasing an additional 119,301 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

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.