In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Buy rating on Intra-Cellular Therapies (NASDAQ: ITCI), with a price target of $32. The company’s shares closed yesterday at $20.75.
“We are Overweight ITCI with a 12-month PT of $32. Core to our investment thesis is the soon-complete NDA filing (2H18) for lumateperone in schizophrenia, which we believe has a high probability of approval based on two large studies that met their primary endpoints and a positive pre-NDA meeting with FDA. In addition, Luma’s differentiated pharmacology results in tolerability and a benign safety profile unlike other approved APs. Notably, the co. continues to make clinical progress showing in part 1 of its switch study that Luma’ resulted in improved body weight and metabolic parameters (1 yr. data yet in 2H18).”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.4% and a 49.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Intra-Cellular Therapies is a Strong Buy with an average price target of $31.50.
The company has a one-year high of $25.82 and a one-year low of $13.93. Currently, Intra-Cellular Therapies has an average volume of 299.5K.
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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