ITCI Price Prediction Next Week
Technical Analysis Based on recent price action, ITCI is showing strong consolidation around $127 level after Johnson & Johnson's acquisition offer of $132 per share in cash. The RSI at 83.62 indicates extremely overbought conditions, suggesting limited upside potential in the near term.
News Impact Johnson & Johnson has agreed to acquire Intra-Cellular Therapies for $132.00 per share in cash, valuing the company at approximately $14.6 billion. Following this announcement, Canaccord and RBC Capital have downgraded ITCI to Hold/Sector Perform with a price target of $132.
Price Prediction for Next Week Given the acquisition offer and current market conditions:
- Support level: $126.55 (Fibonacci S3)
- Resistance level: $127.72 (Fibonacci R3)
- Target price: $127.10-127.50
Trading Recommendation SELL/HOLD. With the stock trading near $127 and a definitive acquisition price of $132, there is limited upside potential (~4%). The extremely overbought RSI suggests potential short-term pullback. For existing holders, maintaining positions until deal closure is reasonable. New entries are not recommended due to limited arbitrage opportunity and potential deal execution risks.
ITCI Similar Chart Price Prediction
The price of ITCI is predicted to go up 0%, based on the high correlation periods with OLB. The similarity of these two price pattern on the periods is 99.91%.
ITCI
OLB
Up: 0%Similarity: 99.91%
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ITCI Analyst's Forecast
David Amsellem
Piper Sandler
Buy → Hold
2025-01-14
Price Target
$107 → $132
Upside
+4.03%
Piper Sandler analyst David Amsellem downgraded Intra-Cellular (ITCI) to Neutral from Overweight with a price target of $132, up from $107, citing the pending acquisition by Johnson & Johnson (JNJ). Piper does not expect a higher bid given that the 39% premium to Intra-Cellular's closing price on January 10 "more than adequately reflects not only the top-line potential of Caplyta but also what are likely to be massive cost synergies."
Jeffrey Hung
Morgan Stanley
Buy
2024-10-11
Price Target
$92 → $95
Upside
+25.4%
