Intra-Cellular price target raised to $96 from $82 at Mizuho

Mizuho raised the firm’s price target on Intra-Cellular to $96 from $82 and keeps a Buy rating on the shares following the first Phase 3 data in major depressive disorder for the company’s lead asset lumateperone. The firm increased its probability of sucess to 80% from 65% and its peak risk-unadjusted annual Caplyta estimates in major depressive disorder to $1.9B from $1.6B on the stronger than expected data. The firm calls Intra-Cellular a top pick for April.