Intra-Cellular price target raised to $100 from $94 at Needham

Needham raised the firm’s price target on Intra-Cellular to $100 from $94 and keeps a Buy rating on the shares. The firm is adjusting its model based on the insights from its major depressive disorder, or MDD, survey which showed “quite optimistic” responses from physicians for Caplyta’s profile and expected use in MDD, the analyst tells investors in a research note. The findings included a positive perception of Caplyta’s clinical profile on both efficacy and safety, the growth of the atypical antipsychotics class with the availability of Caplyta for MDD, and a peak share of about 25% for Caplyta of the market for atypical antipsychotics, Needham added.