Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,753,286 shares of the biopharmaceutical company’s stock after acquiring an additional 155,655 shares during the quarter. Franklin Resources Inc.’s holdings in Intra-Cellular Therapies were worth $129,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITCI. CWM LLC lifted its holdings in shares of Intra-Cellular Therapies by 83.9% during the second quarter. CWM LLC now owns 1,372 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 626 shares during the period. Pallas Capital Advisors LLC purchased a new position in Intra-Cellular Therapies during the second quarter valued at approximately $309,000. Calamos Advisors LLC raised its position in Intra-Cellular Therapies by 86.1% during the second quarter. Calamos Advisors LLC now owns 16,404 shares of the biopharmaceutical company’s stock valued at $1,124,000 after acquiring an additional 7,590 shares in the last quarter. EFG Asset Management North America Corp. raised its position in Intra-Cellular Therapies by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 34,452 shares of the biopharmaceutical company’s stock valued at $2,357,000 after acquiring an additional 163 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Intra-Cellular Therapies by 325.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 69,696 shares of the biopharmaceutical company’s stock valued at $4,773,000 after acquiring an additional 53,322 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $83.03 on Monday. Intra-Cellular Therapies, Inc. has a fifty-two week low of $62.78 and a fifty-two week high of $93.45. The stock’s fifty day moving average is $82.44 and its two-hundred day moving average is $76.84. The firm has a market capitalization of $8.80 billion, a P/E ratio of -95.44 and a beta of 0.95.

Intra-Cellular Therapies (NASDAQ:ITCI) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). 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 $175.40 million during the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the company earned ($0.25) EPS. The business’s revenue for the quarter was up 39.0% on a year-over-year basis. As a group, sell-side analysts forecast that Intra-Cellular Therapies, Inc. will post -0.64 EPS for the current year.

Insider Activity at Intra-Cellular Therapies

In related news, CEO Sharon Mates sold 51,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 1,070,329 shares in the company, valued at approximately $91,834,228.20. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Halstead sold 22,869 shares of the business’s stock in a transaction on 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. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ITCI. Piper Sandler upgraded Intra-Cellular Therapies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $92.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective 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. Morgan Stanley lifted their price target on Intra-Cellular Therapies from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada lifted their price target on Intra-Cellular Therapies from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Intra-Cellular Therapies in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Intra-Cellular Therapies presently has an average rating of “Moderate Buy” and a consensus price target of $97.23.

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.