Intra-Cellular price target raised to $87 from $83 at Cantor Fitzgerald

Cantor Fitzgerald analyst Charles Duncan raised the firm’s price target on Intra-Cellular to $87 from $83 and keeps an Overweight rating on the shares. On Tuesday, Intra-Cellular announced the positive results of the Phase 3 403 study of lumateperone for mixed features associated with major depressive disorder or bipolar depression I/II, and the firm came away from Intra-Cellular’s conference call encouraged and anticipatory of next steps that are likely to result in a meeting with the FDA in Q2 or Q3, the analyst tells investors in a research note. Next steps may include an expansion of clinical utility through the filing of an sNDA to broaden the approved label of CAPLYTA, the firm says.