Intra-Cellular Therapies Stock Hits All-Time High of $131.37

In a remarkable display of market confidence, Intra-Cellular Therapies Inc. (NASDAQ:ITCI) stock has soared to an all-time high, reaching a price level of $131.37. According to InvestingPro data, the company’s impressive 46.6% revenue growth and "GREAT" financial health score underscore this momentum, though technical indicators suggest the stock is currently overbought. This significant milestone underscores the biopharmaceutical company’s impressive performance over the past year, which has seen the stock’s value more than double with a 1-year change of 104.04%. Investors have rallied behind Intra-Cellular Therapies, buoyed by promising developments in its pipeline of treatments for central nervous system disorders, reflecting a robust optimism in the company’s growth potential and therapeutic advancements. Want deeper insights? InvestingPro offers exclusive access to 15+ additional ProTips and comprehensive analysis for ITCI, helping investors make more informed decisions.

In other recent news, Intra-Cellular Therapies is progressing in its merger with Johnson & Johnson, following the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. This regulatory milestone satisfies one of the conditions necessary for the merger’s completion, with a special stockholder meeting scheduled to vote on the merger agreement. Meanwhile, Mizuho (NYSE:MFG) Securities has downgraded Intra-Cellular Therapies’ stock from Outperform to Neutral, citing the company’s recent fourth-quarter results and the proposed acquisition by Johnson & Johnson. Mizuho adjusted the stock’s price target to $132, aligning it with the acquisition terms. Similarly, Canaccord Genuity and RBC Capital Markets have downgraded the stock, both raising the price target to $132, reflecting the anticipated acquisition price.

Johnson & Johnson’s acquisition of Intra-Cellular Therapies has also led to S&P Global Ratings placing Johnson & Johnson’s ’AAA’ credit rating on CreditWatch Negative. This is due to the expected increase in the company’s leverage, which could exceed the current rating’s downside trigger. Despite this, projections suggest that Johnson & Johnson will reduce its leverage by the end of 2026. The acquisition aligns with Johnson & Johnson’s strategy to enhance its neuroscience franchise, adding Intra-Cellular’s CAPLYTA to its portfolio. This development comes amid a potential label expansion for CAPLYTA, which could further impact Intra-Cellular’s valuation as the merger progresses.

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