Fly News Breaks for December 23, 2019
Dec 23, 2019 | 15:09 EDT
BTIG analyst Robert Hazlett raised his price target on Intra-Cellular to $73 from $34 after the company announced the approval of Caplyta for the treatment of schizophrenia, with plans for a commercial launch in the first quarter of 2020. Hazlett said he had anticipated the treatment's approval despite "significant" investor skepticism going into the event. The analyst noted that Caplyta's label is of material importance, which reflects its relative lack of AEs compared to other atypical antipsychotics. Hazlett has a Buy rating on the stock.
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