Franklin Resources Inc. Cuts Stake in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Franklin Resources Inc. lowered its position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI – Get Rating) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793,456 shares of the biopharmaceutical company’s stock after selling 3,954 shares during the quarter. Franklin Resources Inc. owned approximately 1.89% of Intra-Cellular Therapies worth $94,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ITCI. JPMorgan Chase & Co. boosted its stake in Intra-Cellular Therapies by 11.7% in the first quarter. JPMorgan Chase & Co. now owns 157,144 shares of the biopharmaceutical company’s stock worth $9,615,000 after buying an additional 16,454 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Intra-Cellular Therapies by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 385,508 shares of the biopharmaceutical company’s stock worth $23,591,000 after buying an additional 18,999 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Intra-Cellular Therapies in the first quarter worth approximately $349,000. PNC Financial Services Group Inc. boosted its stake in Intra-Cellular Therapies by 25.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,909 shares of the biopharmaceutical company’s stock worth $363,000 after buying an additional 1,204 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Intra-Cellular Therapies by 71.3% in the first quarter. Natixis Advisors L.P. now owns 18,165 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 7,558 shares in the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Cantor Fitzgerald boosted their price objective on Intra-Cellular Therapies from $87.00 to $90.00 in a research report on Friday, May 5th. Morgan Stanley initiated coverage on Intra-Cellular Therapies in a report on Thursday, April 20th. They set an “overweight” rating and a $80.00 target price for the company. Royal Bank of Canada decreased their target price on Intra-Cellular Therapies from $75.00 to $71.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. Canaccord Genuity Group upped their target price on Intra-Cellular Therapies from $93.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, March 29th. Finally, JPMorgan Chase & Co. decreased their target price on Intra-Cellular Therapies from $59.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, March 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.45.

Intra-Cellular Therapies Price Performance

NASDAQ ITCI opened at $60.17 on Friday. Intra-Cellular Therapies, Inc. has a 12 month low of $42.01 and a 12 month high of $66.56. The stock’s fifty day moving average price is $58.68 and its 200-day moving average price is $52.94.

Intra-Cellular Therapies (NASDAQ:ITCI – Get Rating) last released its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.17. Intra-Cellular Therapies had a negative return on equity of 33.92% and a negative net margin of 73.46%. The firm had revenue of $95.31 million for the quarter, compared to analysts’ expectations of $92.14 million. On average, equities research analysts forecast that Intra-Cellular Therapies, Inc. will post -2.32 earnings per share for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 41,770 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $43.15, for a total transaction of $1,802,375.50. Following the sale, the chief executive officer now directly owns 1,130,309 shares of the company’s stock, valued at $48,772,833.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sharon Mates sold 41,770 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $43.15, for a total transaction of $1,802,375.50. Following the sale, the chief executive officer now directly owns 1,130,309 shares of the company’s stock, valued at $48,772,833.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Neumann sold 7,241 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $50.01, for a total value of $362,122.41. Following the sale, the executive vice president now directly owns 49,199 shares in the company, valued at $2,460,441.99. The disclosure for this sale can be found here. Insiders have sold 132,319 shares of company stock valued at $6,193,749 over the last ninety days. Insiders own 3.70% of the company’s stock.

Intra-Cellular Therapies Company Profile

(Get Rating)

Intra-Cellular Therapies, Inc operates as a biopharmaceutical company. It focuses on the discovery and clinical development of 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.