Cantor Fitzgerald Maintains a Buy Rating on Intra-Cellular Therapies (ITCI)

By Ryan Adsit

Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Intra-Cellular Therapies (ITCIResearch Report) today and set a price target of $26. The company’s shares opened today at $12.60.

Duncan noted:

“Core to our investment thesis is the complete NDA filing 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. Section may be found on pages 4 – 5.ITCI Valuation.”

According to TipRanks.com, Duncan is a 4-star analyst with an average return of 5.3% and a 50.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.

Currently, the analyst consensus on Intra-Cellular Therapies is a Moderate Buy with an average price target 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