In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Intra-Cellular Therapies (ITCI), with a price target of $26. The company’s shares opened today at $13.94.
Duncan said:
“. We reiterate our Overweight rating and $26 price target on ITCI shares. Intra-Cellular reported 1Q19 financial performance, ending the period with cash of $312.8M. Our model projects sufficient funding into 2H20 and through several clinical and regulatory milestones including NDA acceptance/approval of lumateperone for schizophrenia and P3 data in bipolar depression (Studies 401 & 404) that are expected later this quarter. We also look forward to luma’s potential approval in 3Q19, the establishment of the company’s commercial team and its market launch as a differentiated, broadly active neuropsych product.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.9% and a 49.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
Intra-Cellular Therapies has an analyst consensus of Moderate Buy, with a price target consensus of $27.
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Based on Intra-Cellular Therapies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $40.75 million. In comparison, last year the company had a GAAP net loss of $35.48 million.
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Intra-Cellular Therapies, Inc. is a biopharmaceutical company, which focuses on the discovery and clinical development of innovative, 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. Its lead product candidate, I
