JPMorgan analyst Jessica Fye raised the firm’s price target on Intra-Cellular to $75 from $65 and keeps an Overweight rating on the shares. The analyst believes the company’s first adjunctive depression pivotal trial is “reasonably de-risked” based on Caplytas track record in the clinic showing benefit on depressive episodes in multiple late-stage trials. The firm is using a 70% probability of success. Ahead of the trial readouts JPMorgan is putting Intra-Cellular on “Positive Catalyst Watch.”
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