Intra-Cellular price target raised to $107 from $100 at Canaccord

Canaccord raised the firm’s price target on Intra-Cellular to $107 from $100 and keeps a Buy rating on the shares. The firm said the stock is poised for further upside as they recently reported robust Phase 3 data from Study 501 for lumateperone as an adjunct treatment for major depressive disorder (MDD). The key change to their model is that they are adding specific sales estimates for luma as an adjunct treatment for MDD and assume a probability of approval of 75%.