10 Best Mid-Cap Healthcare Stocks To Buy Now

1. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)

Hedge Fund Holders: 52 

Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) develops drugs for neuropsychiatric and neurological disorders, focusing on schizophrenia, bipolar disorder, and major depressive disorder. The primary catalyst for ITCI’s growth is the continued success and expansion of CAPLYTA. Initially approved for schizophrenia, CAPLYTA received additional FDA approval for bipolar depression in late 2021. This expanded indication has significantly increased the drug’s potential market size and revenue opportunities.

Sharon Mates, the Chairman of the board of directors at Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) said in the Q2 earnings call transcript:

“We are pleased to report our strong progress in Q2 in addition to CAPLYTA’s impressive growth trajectory. During the quarter, we announced robust positive results from our two Phase III clinical trials in major depressive disorder or MDD. These results form the basis for an expanded label for CAPLYTA and we are on track to submit a supplemental NDA for CAPLYTA for the adjunctive treatment of MDD later this year. In addition, we continue to advance our broad development pipeline which I will discuss later. We are very pleased with the company’s progress. Our vision has been to establish CAPLYTA as a first choice treatment across multiple depressive disorders and we are well on our way to achieving this goal.”

As of Q2 2024, around 52 hedge fund holders held stakes in the stock with VenBio Select Advisor being the largest stakeholder with 3,000,000 shares worth $205,470,000. The stock holds a Strong Buy rating based on 14 Wall Street Analysts. The average price target is $96.77, ranging from $74.00 to $130.00, indicating a 32.06% increase from the current price of $73.28.

Overall, Intra-Cellular Therapies ranks first among the 10 best mid-cap stocks to buy now. While we acknowledge the potential of mid-cap stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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