Mizuho raised the firm’s price target on Intra-Cellular to $100 from $96 and keeps a Buy rating on the shares following the announcement of a second set of positive Phase 3 data earlier this week from Study 502. The firm, which has been “very impressed by the totality of the Phase 3 data for Caplyta in MDD,” including both Studies 501 and 502 in MDD and also Study 403 in patients with mixed features, has raised its assumption of the probability of success for lead asset Caplyta in major depressive disorder, or MDD, to 90% from 80%, the analyst tells investors.
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