Intra-Cellular initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Jeffrey Hung initiated coverage of Intra-Cellular with an Overweight rating and $80 price target. The analyst believes Caplyta sales will remain strong in 2023 ahead of the Phase 3 data in major depressive disorder adjunctive therapy. Intra-Cellular shares should continue to rise if additional script data and quarterly results continue to support the potential for beating the company’s initial 2023 net product sales guidance, the analyst tells investors in a research note.