Franklin Resources Inc. Boosts Stock Position in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Franklin Resources Inc. lifted its holdings in Intra-Cellular Therapies, Inc. (NASDAQ:ITCIGet Rating) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,699,730 shares of the biopharmaceutical company’s stock after purchasing an additional 1,034 shares during the quarter. Franklin Resources Inc. owned 1.80% of Intra-Cellular Therapies worth $97,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its stake in Intra-Cellular Therapies by 93.8% during the second quarter. US Bancorp DE now owns 496 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 240 shares during the period. Assetmark Inc. boosted its stake in Intra-Cellular Therapies by 410.0% during the second quarter. Assetmark Inc. now owns 510 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 410 shares during the period. Prospera Financial Services Inc purchased a new position in Intra-Cellular Therapies during the first quarter worth $71,000. Exchange Traded Concepts LLC boosted its stake in Intra-Cellular Therapies by 138.3% during the second quarter. Exchange Traded Concepts LLC now owns 1,299 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 754 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Intra-Cellular Therapies during the second quarter worth $207,000. 85.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITCI has been the subject of several research analyst reports. StockNews.com upgraded Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. Canaccord Genuity Group lifted their target price on Intra-Cellular Therapies from $90.00 to $93.00 in a research report on Friday, November 4th. Needham & Company LLC lifted their target price on Intra-Cellular Therapies from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. The Goldman Sachs Group downgraded Intra-Cellular Therapies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $49.00 in a research report on Monday, August 22nd. Finally, Mizuho reiterated a “buy” rating and set a $72.00 target price on shares of Intra-Cellular Therapies in a research report on Monday, October 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Intra-Cellular Therapies presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Intra-Cellular Therapies Stock Performance

ITCI stock opened at $51.19 on Thursday. The business has a 50-day moving average price of $47.94 and a 200 day moving average price of $52.36. Intra-Cellular Therapies, Inc. has a 1-year low of $34.43 and a 1-year high of $66.00.

Insider Activity at Intra-Cellular Therapies

In related news, CFO Lawrence J. Hineline sold 65,164 shares of Intra-Cellular Therapies stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $45.63, for a total value of $2,973,433.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Intra-Cellular Therapies Company Profile

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Intra-Cellular Therapies, Inc, a biopharmaceutical company, develops novel drugs for the treatment of neuropsychiatric and neurologic diseases by targeting intracellular signaling mechanisms within the central nervous system in the United States. The company offers CAPLYTA for the treatment of schizophrenia in adults.

Further Reading

Institutional Ownership by Quarter for Intra-Cellular Therapies (NASDAQ:ITCI)

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