Biotech Values

[linhdtu]

Now and then one needs to recalibrate one's view of the prediction biz.
On Sep 18, 10 days ago, Leerink Partners analyst Seamus Fernandez reiterated an Outperform rating and sharply raised its price target on Intra-Cellular Therapies (NASDAQ: ITCI) to $95.00 (from $36.00).

"Based on the positive Phase III results announced on Wednesday, we are increasing our probability of success (POS) for ITI-007 in schizophrenia to 90% (from 70%)," Fernandez said. "We are also raising our POS in bipolar mania to 90% (from 50%), in bipolar depression to 70% (from 40%), and in adjunctive major depressive disorder (MDD) to 60% (from 25%). Additionally, we have added a 40% probability-weighted forecast for behavioral disturbances in elderly dementia patients. As a result of these changes, our price target has increased to $95/shr from $39/shr."