Fly News Breaks for March 3, 2020
Mar 3, 2020 | 07:18 EDT
BTIG analyst Robert Hazlett lowered the firm's price target on Intra-Cellular to $68 from $73 but keeps a Buy rating on the shares. The analyst notes that the company is preparing for a launch of Caplyta in schizophrenia this month, but with a slightly later launch date than previously expected, he is reducing his U.S. sales estimates for the drug by $15M to $85M this year and by $24M to $232M next year. Hazlett remains confident in the drug's material potential based on its "novel pharmacology", which leads to a relative lack of adverse effects compared to other atypicals.
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