Intra-Cellular falls as Goldman Sachs cuts to 'neutral'

Intra-Cellular Therapies

22/08/2022 15:39

** Drugmaker Intra-Cellular Therapies Inc's shares  ITCI.O 
fall ~2% to $49.5 after brokerage Goldman Sachs lowers rating to
'neutral' from 'buy' 
    ** Brokerage says volume growth of Intra-Cellular's
antipsychotic drug Caplyta has been slowing down even while the
company pulls levers to accelerate growth
    ** The drug is used to treat patients with conditions such
as schizophrenia, episodes of depression associated with bipolar
disorder
    ** Anticipated entrance of generic drug Latuda for bipolar
disorder poses an incremental competitive threat - Goldman
    ** Brokerage sees "dearth of significant value-inflecting
catalysts over near-term"; cuts PT to $49 from $64
    ** Including session's loss, stock down ~3% YTD

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))