Intra-Cellular Therapies ( (ITCI) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Intra-Cellular Therapies (ITCI) stocks surged in pre-market trading after Johnson & Johnson (JNJ) announced its acquisition at $132 per share, totaling $14.6 billion. This strategic acquisition is intended to enhance JNJ’s neuroscience portfolio and offset revenue losses due to upcoming patent expirations. ITCI’s Caplyta, a promising FDA-approved treatment, is expected to drive significant sales. Previously, ITCI stocks saw a rise due to a favorable patent settlement with Sandoz, prompting analysts to increase price targets based on ITCI’s strong patent position and growth potential in the CNS market.
More about Intra-Cellular Therapies
YTD Price Performance: 12.62%
Average Trading Volume: 622,352
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $10.06B
For further insights into ITCI stock on TipRanks’ Stock Analysis page.
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