We recently compiled a list of the Why These 10 Large-Cap Stocks are Skyrocketing. In this article, we are going to take a look at where Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) stands against the other large-cap stocks.
On January 23, Mike Bailey, FBB Capital Partners director of research, appeared on CNBC where he shared his outlook on the large caps. Bailey was happy with how the macroeconomic conditions were looking for the United States, especially with the job growth, in 2025 and beyond.
He particularly remained confident that large caps were better positioned to report earnings growth than the small caps, especially when looking for long-term growth and expectations of exceeding goals.
Ten companies in diverse sectors such as the financials, healthcare, technology, and energy industries, locked in overall positive market gains due to supportive market conditions, macroeconomic environment, and growth potential. That said, let’s take a look at the 10 large-cap stocks that happen to be skyrocketing.
To come up with the 10 names, we only considered stocks with a market capitalization of more than $10 billion. We then shortlisted the stocks based on their performance in the past quarter and picked the top 10 with the highest 30-day return from December 22, 2024, to January 22, 2025.
A scientist in a lab coat working with petri dishes containing biopharmaceutical drugs.
Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)
30-day Return as of January 22, 2025: 51.7%
Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is a biopharmaceutical company that provides innovative treatments that improve the living conditions of individuals with neurological disorders. The stock surged by nearly 52% on January 22, going from $84 on December 22, 2024, to $127.41 within 30 days.
The biotech company saw a surge in its stock price after JNJ, the pharmaceutical giant, signed an agreement to acquire the stock for $14.6 billion, paying $132 per share on January 13, 2025. ITCI’s neurological lineup is expected to boost JNJ’s position in that department significantly.
In addition to that, ITCI was also favored among analysts due to its accelerated performance in drug development and approval. On January 12, BofA raised ITCI’s price target to $118 from $100 and kept a buy rating on the stock after the company announced its positive Caplyta patent settlement with Sandoz.
Overall ITCI ranks 1st on our list of the large-cap stocks that are skyrocketing. While we acknowledge the potential of ITCI as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ITCI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
