Intra-Cellular price target raised to $78 from $75 at JPMorgan

JPMorgan raised the firm’s price target on Intra-Cellular to $78 from $75 and keeps an Overweight rating on the shares. The analyst cites confidence in the company’s Caplyta adjunctive therapy for major depressive disorder opportunity for the target increase. The firm now sees an 85% probability of success in this setting. With “healthy” Caplyta sales in existing indications and “robust” results for Study 501, Intra-Cellular is well on the way to unlocking a large addressable opportunity, the analyst tells investors in a research note.