Intra-Cellular Therapies (ITCI) PT Raised to $95 at Leerink Partners

Leerink Partners analyst Seamus Fernandez reiterated an Outperform rating and sharply raised its price target on Intra-Cellular Therapies (NASDAQ: ITCI) to $95.00 (from $36.00).

"Based on the positive Phase III results announced on Wednesday, we are increasing our probability of success (POS) for ITI-007 in schizophrenia to 90% (from 70%)," Fernandez said. "We are also raising our POS in bipolar mania to 90% (from 50%), in bipolar depression to 70% (from 40%), and in adjunctive major depressive disorder (MDD) to 60% (from 25%). Additionally, we have added a 40% probability-weighted forecast for behavioral disturbances in elderly dementia patients. As a result of these changes, our price target has increased to $95/shr from $39/shr."

For an analyst ratings summary and ratings history on Intra-Cellular Therapies click here. For more ratings news on Intra-Cellular Therapies click here.

Shares of Intra-Cellular Therapies closed at $58.62 yesterday.

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