ITCI - Intra-Cellular initiated Buy at UBS on rollout of depression medication

Intra-Cellular Therapies (NASDAQ:ITCI) closed higher on Tuesday after UBS launched its coverage with a Buy rating and a $75 per share target noting that the commercial-stage pharma company is set to benefit from the launch of its only commercial product Caplyta for bipolar depression. In December 2019, the FDA first approved Caplyta as a treatment for adults with in. Two years later, the agency approved the drug for the treatment of depressive episodes linked to bipolar I or II disorder in adults. “Street seems to be underestimating longevity of launch inflection,” UBS analysts Ashwani Verma wrote citing a forecast of Caplyta script trend and an analysis of positive payer mix as some of the supportive evidence. The drug known as lumateperone in generic terms is currently undergoing a global study designed to evaluate its effect in patients with major depressive disorder and in patients with bipolar depression who exhibit mixed

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Intra-Cellular initiated Buy at UBS on rollout of depression medication