The EVP & GC of Intra-Cellular Therapies is Exercising Options

By Carrie Williams

On November 19 it was reported that the EVP & GC of Intra-Cellular Therapies (ITCIResearch Report), Michael Halstead, exercised options to sell 79,425 ITCI shares at $13.86 a share, for a total transaction value of $2.19M.

Following Michael Halstead’s last ITCI Sell transaction on November 06, 2014, the stock climbed by 10.5%. In addition to Michael Halstead, one other ITCI executive reported Sell trades in the last month.

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Based on Intra-Cellular Therapies’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $7.37 million and GAAP net loss of -$55,183,625. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $34.86 million. The company has a one-year high of $43.56 and a one-year low of $8.75.

Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $50.67, reflecting a -49.5% downside.

The insider sentiment on Intra-Cellular Therapies has been neutral according to 45 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

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Intra-Cellular Therapies, Inc. is a biopharmaceutical company, which focuses on the discovery and clinical development of innovative, small molecule drugs that address underserved medical needs in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms within the central nervous system, or CNS. Its lead product candidate, ITI-007, is in clinical development as a first-in-class treatment for schizophrenia. The company also includes pre-clinical programs that are focused on advancing drug candidates for the treatment of cognitive dysfunction, in both schizophrenia and Alzheimer’s disease, and for disease modification and the treatment of neurodegenerative disorders, including Alzheimer’s disease. The company was founded by Paul Greengard and Sharon Mates on August 29, 2013 and is headquartered in New York, NY.