Franklin Resources Inc. Sells 7,904 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Franklin Resources Inc. lowered its stake in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,780,160 shares of the biopharmaceutical company’s stock after selling 7,904 shares during the quarter. Franklin Resources Inc.’s holdings in Intra-Cellular Therapies were worth $127,495,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ITCI. Signaturefd LLC boosted its position in Intra-Cellular Therapies by 85.7% during the fourth quarter. Signaturefd LLC now owns 518 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 239 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Intra-Cellular Therapies during the third quarter worth approximately $45,000. CI Investments Inc. lifted its holdings in shares of Intra-Cellular Therapies by 1,191.6% during the third quarter. CI Investments Inc. now owns 1,692 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 1,561 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Intra-Cellular Therapies by 64.9% during the third quarter. Covestor Ltd now owns 2,518 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 991 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Intra-Cellular Therapies by 17.8% during the fourth quarter. Assetmark Inc. now owns 2,236 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 338 shares during the last quarter. Institutional investors own 92.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ITCI shares. TD Cowen upped their price target on Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Bank of America upped their price target on Intra-Cellular Therapies from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $120.00 price target on shares of Intra-Cellular Therapies in a report on Wednesday, April 24th. Robert W. Baird upped their target price on Intra-Cellular Therapies from $83.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Canaccord Genuity Group upped their target price on Intra-Cellular Therapies from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Buying and Selling at Intra-Cellular Therapies

In other news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the sale, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joel S. Marcus sold 26,328 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.68, for a total transaction of $1,808,207.04. Following the sale, the director now owns 39,662 shares in the company, valued at $2,723,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Halstead sold 7,907 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $69.53, for a total value of $549,773.71. Following the sale, the executive vice president now owns 29,700 shares in the company, valued at approximately $2,065,041. The disclosure for this sale can be found here. Insiders have sold 168,487 shares of company stock worth $11,364,950 over the last three months. Company insiders own 3.40% of the company’s stock.

Intra-Cellular Therapies Trading Up 1.8 %

Shares of NASDAQ:ITCI opened at $68.49 on Thursday. The business’s fifty day moving average price is $68.84 and its two-hundred day moving average price is $67.00. Intra-Cellular Therapies, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $84.89.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. Intra-Cellular Therapies had a negative return on equity of 18.49% and a negative net margin of 21.57%. The firm had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $141.41 million. During the same period in the prior year, the business posted ($0.46) earnings per share. The business’s revenue was up 52.0% compared to the same quarter last year. Sell-side analysts predict that Intra-Cellular Therapies, Inc. will post -0.53 EPS for the current year.

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.