Intra-Cellular price target raised to $73 from $70 at Needham

Needham analyst Ami Fadia raised the firm’s price target on Intra-Cellular to $73 from $70 and keeps a Buy rating on the shares ahead of the upcoming data readouts from two Phase 3 MDD studies. The body of evidence for Caplyta is uniquely supportive of efficacy in MDD, the analyst tells investors in a research note. Caplyta growth could slow by 46% to ~850 TRx/month and still reach the upper end of the management’s $430-$455M guidance range, the firm adds.