Franklin Resources Inc. Purchases 155,655 Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Franklin Resources Inc. boosted its position in shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI - Free Report) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,753,286 shares of the biopharmaceutical company's stock after acquiring an additional 155,655 shares during the period. Franklin Resources Inc. owned 1.65% of Intra-Cellular Therapies worth $129,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Intra-Cellular Therapies in the 3rd quarter valued at $97,000. Arete Wealth Advisors LLC boosted its position in Intra-Cellular Therapies by 22.0% in the 3rd quarter. Arete Wealth Advisors LLC now owns 25,067 shares of the biopharmaceutical company's stock worth $1,834,000 after purchasing an additional 4,517 shares in the last quarter. Geode Capital Management LLC boosted its position in Intra-Cellular Therapies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,301 shares of the biopharmaceutical company's stock worth $125,029,000 after purchasing an additional 22,128 shares in the last quarter. M&T Bank Corp boosted its holdings in Intra-Cellular Therapies by 36.3% during the third quarter. M&T Bank Corp now owns 6,163 shares of the biopharmaceutical company's stock worth $451,000 after buying an additional 1,642 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Intra-Cellular Therapies by 282.0% in the 3rd quarter. Barclays PLC now owns 34,453 shares of the biopharmaceutical company's stock valued at $2,521,000 after purchasing an additional 25,435 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 51,000 shares of the business's stock in a transaction dated 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 directly owns 1,070,329 shares of the company's stock, valued at $91,834,228.20. The trade was a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Michael Halstead sold 22,869 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.12, for a total value of $2,038,085.28. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

ITCI has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Intra-Cellular Therapies from $81.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Piper Sandler raised Intra-Cellular Therapies from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $68.00 to $92.00 in a research report on Friday, September 6th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Intra-Cellular Therapies in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price objective on shares of Intra-Cellular Therapies in a research report on Monday, September 16th. Finally, Morgan Stanley boosted their price target on shares of Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.23.

Intra-Cellular Therapies Stock Up 2.5 %

Intra-Cellular Therapies stock traded up $2.08 during mid-day trading on Monday, reaching $85.11. The company had a trading volume of 454,281 shares, compared to its average volume of 826,961. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -97.83 and a beta of 0.95. Intra-Cellular Therapies, Inc. has a 52 week low of $62.78 and a 52 week high of $93.45. The company has a 50 day moving average of $82.44 and a 200-day moving average of $76.84.

Intra-Cellular Therapies (NASDAQ:ITCI - Get Free Report) last released its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $175.40 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. On average, analysts predict that Intra-Cellular Therapies, Inc. will post -0.64 earnings per share for the current fiscal year.

Intra-Cellular Therapies 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.