Intra-Cellular Therapies (ITCI) PT Raised to $75 at Cowen

Cowen analyst Ritu Baral reiterated an Outperform rating and boosted its price target on Intra-Cellular Therapies (NASDAQ: ITCI) to $75.00 (from $62.00), saying ITI-007 is poised for more Phase 3 success next year.

Baral commented, "The first Ph3 '007 schizophrenia trial met primary/secondary endpoints with excellent safety: the 60mg dose reached stat sig separation from PBO in PANSS, with no significant change in metabolic markers/weight. The 40mg dose narrowly missed significance in the PANSS. The profile strongly supports our estimated $900mm WW sales. We are increasing our target to $75 on higher probability of success."

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 $48.79 yesterday.

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