Fly News Breaks for December 23, 2019
Dec 23, 2019 | 15:27 EDT
Canaccord analyst Sumant Kulkarni raised his price target for Intra-Cellular to $65 from $29 after the FDA approved the company's Caplyta for schizophrenia. The approval came in modestly ahead of the action date of 12/27, which the FDA had previously pushed out by 3 months after unexpectedly canceling an Advisory Committee meeting, the analyst notes. While Intra-Cellular stock is up about 200% on the news, Kulkarni believes there is clear potential for further upside as lumateperone is in late-stage development for other large indications. The analyst has a Buy rating on the shares.
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