Intra-Cellular Therapies Better Positioned For Success: Analyst Anticipates Positive Phase 3 Depression Trial Data
Portfolio Pulse from Vandana Singh
Needham has increased the price target for Intra-Cellular Therapies Inc (NASDAQ:ITCI) from $70 to $73, maintaining a Buy rating. The analyst anticipates success in the major depressive disorder (MDD) trial but assigns it a 60% PoS due to inherent risks. The stock has risen 33% since positive Phase 3 data, indicating some anticipated upside is already in the shares. Needham also raised the 2023 sales estimate for Caplyta, a product of ITCI, to $467M.
July 06, 2023 | 7:38 pm
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POSITIVE IMPACT
Intra-Cellular Therapies Inc's stock price may see a positive impact due to the raised price target by Needham and anticipated success in the MDD trial. The raised sales estimate for Caplyta also indicates potential growth.
The raised price target by Needham indicates a positive outlook for Intra-Cellular Therapies Inc. The anticipation of success in the MDD trial could also boost investor confidence, potentially driving the stock price up. Additionally, the raised sales estimate for Caplyta, a product of ITCI, indicates potential growth for the company.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100