Cantor Fitzgerald Thinks Intra-Cellular Therapies’ Stock is Going to Recover


In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Intra-Cellular Therapies (ITCI), with a price target of $34. The company’s shares opened today at $12.20, close to its 52-week low of $11.57.

Duncan noted:

“. We reiterate our Overweight rating and raise our 12- month PT of $32 to $34/share of ITCI. Tue AM Intra-Cellular announced that it is terminating its evaluation of low-dose lumateperone in Alzheimer’s agitation due to a futility call from an interim analysis conducted by the independent data monitoring committee. Although on the surface, this removes a potential source of label expansion should luma’ be approved in schizophrenia (as we expect), we are undeterred in our views that the candidate has differentiated pharmacology and potential in a broad range of neuropsych indications. It was our view going into this read that the ‘201 trial may require interpretation.”

According to TipRanks.com, Duncan is a 1-star analyst with an average return of -3.0% and a 39.8% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Intra-Cellular Therapies has an analyst consensus of Strong Buy, with a price target consensus of $28.40, which is a 132.8% upside from current levels. In a report issued on December 12, Canaccord Genuity also maintained a Buy rating on the stock with a $31 price target.

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Based on Intra-Cellular Therapies’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $41.52 million. In comparison, last year the company had a GAAP net loss of $22.87 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is neutral on the stock. Most recently, in October 2018, Richard A. Lerner, a Director at ITCI bought 12,500 shares for a total of $18,750.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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

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