In a report released today, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Intra-Cellular Therapies (NASDAQ: ITCI), with a price target of $28. The company’s shares opened today at $21.84.
Tanner said:
“: We reiterate the Overweight rating and $28 PT for ITCI stock. We believe intense market focus on lumateperone in schizophrenia as the primary value driver could dissipate somewhat with evidence that pipeline assets/ indications could bear fruit. By the time the schizophrenia indication may be viewed as viable, we believe it could embody a far smaller commercial opportunity relative to the aggregate potential of the pharmacophore and ITI-214 in other indications.”
According to TipRanks.com, Tanner is a 2-star analyst with an average return of 1.1% and a 44.0% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Aquinox Pharmaceuticals.
Currently, the analyst consensus on Intra-Cellular Therapies is a Moderate Buy with an average price target of $29.50, which is a 35.1% upside from current levels. In a report released today, 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 March 31, the company reported a quarterly GAAP net loss of $35.48 million. In comparison, last year the company had a GAAP net loss of $17.76 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
