Long Position on ITCI @ $34.70 on 6/28/2016 (Momentum)

Intra-Cellular Therapies, Inc. (ITCI) discovers and develops small molecule drugs for the treatment of neuropsychiatric and neurologic disorders within the central nervous system (CNS).

Its lead drug candidate is ITI-007, which is in phase III clinical development for the treatment of schizophrenia and bipolar depression, as well as to treat behavioral disturbances associated with dementia, sleep disturbances associated with neurologic and psychiatric disorders, sleep and behavioral disturbances associated with autism spectrum disorder, and depression and other mood disorders.

The company also develops ITI-002 phosphodiesterase type 1 (PDE1) program that is in phase I development for the treatment of central nervous system, cardiovascular, and other disorders; and PDE2 and PDE9 targets for treating neurodegeneration and bioenergetic failure in various CNS diseases.

It has a license and collaboration agreement with Takeda Pharmaceutical Company Limited to research, develop, and commercialize its proprietary compound ITI-214 and other selected compounds that selectively inhibit PDE1 for use in the prevention and treatment of human diseases. 

Shares are heading higher in an "Upward Trading Channel" and higher share prices are expected for this stock. Note the 50-day mving average on the stock shown in green and today's news. The company sait it has initiated Phase 3 development of ITI-007 for the treatment of agitation in patients with dementia, including Alzheimer's disease. 

52-Weeks Trading Range: $21.19 - $60.79

Entry Point: $34.70

Stop Loss: $33.00

Target Price: $38.25

Updates

6/30/2016 11:08:00 AM

ITCI closed at $38.50.

Position closed on 6/30/2016 at price of $38.50 with a 10.95% gain in 2 days.

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