Intra-Cellular price target raised to $135 from $130 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Intra-Cellular (ITCI) to $135 from $130 and keeps an Overweight rating on the shares. Intra-Cellular reported CAPLYTA revenue of $175.2M for Q3, beating consensus estimates and FY24 revenue guidance was raised to $665M-$685M, which the firm attributes to a relative favorable efficacy and tolerability profile that is continuing to drive new patients, the analyst tells investors in a research note. Cantor believes the guidance raise and strengthening commercial foundation of the CAPLYTA franchise bodes well for the company’s ability to ultimately achieve its vision for CAPLYTA’s $5B potential as a first-choice treatment option in mood disorders.