Cantor Fitzgerald analyst William Tanner reiterated a Buy rating on Intra-Cellular Therapies (NASDAQ: ITCI) yesterday and set a price target of $28. The company’s shares closed yesterday at $18.37.
Tanner noted:
“Lumateperone NDA filing expected to complete in mid-2108. ITCI did not hold a call in conjunction with the release of 1Q18 results, but we had an opportunity to speak with management. Regarding the pre-NDA meeting with the FDA that occurred in late 1Q18, no specific commentary was given. Management did note that it views the rolling submission as a plan that could de-risk the review compared with waiting until later in the review cycle when questions might arise. If approved, we believe the drug’s side effect profile, particularly as it relates to metabolic disturbances, could differentially position lumateperone relative to current schizophrenia therapies.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 6.5% and a 48.1% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Aquinox Pharmaceuticals.
Intra-Cellular Therapies has an analyst consensus of Strong Buy, with a price target consensus of $28.43.
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The company has a one-year high of $25.82 and a one-year low of $9.11. Currently, Intra-Cellular Therapies has an average volume of 566.1K.
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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, ITI-007, is in clinical development as a first-in-class treatment for schizophrenia. The company also includes pre-clinical programs that are focused on advancing drug candidates for the treatment of cognitive dysfunction, in both schizophrenia and Alzheimer’s disease, and for disease modification and the treatment of neurodegenerative disorders, including Alzheimer’s disease. Intra-Cellular Therapies was founded by Paul Greengard on August 29, 2013 and is headquartered in New York, NY.
