Positive data from Intra-Cellular Therapies ' latest study could herald further success for the biotechnology stock, according to Canaccord Genuity. The updated forecast implies that shares of Intra-Cellular Therapies could soar nearly 50% from their Tuesday close at $75.48. "We believe the solidity of the Phase 3 data means an approval for luma in MDD is more of a when, not if." Shares of Intra-Cellular Therapies have risen less than 4% this year. But the analyst believes the stock has been "somewhat constrained" due to investors' overly cautious nature with luma's potential patent runway, he wrote.

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Persons: Canaccord, Sumant Kulkarni, Kulkarni, —, Fred Imbert Organizations: Therapies, Cellular Locations: MDD