5 Best Psychedelic Stocks to Buy

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

Number of Hedge Fund Holders: 37

Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) is a biopharmaceutical company specializing in the discovery, development, and commercialization of small molecule drugs targeting unmet medical needs, particularly in neuropsychiatric and neurological disorders. Caplyta, the sole approved drug in Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s portfolio, received FDA approval in December 2019 for the treatment of schizophrenia in adults. Subsequently, in December 2021, it gained FDA approval for treating bipolar depression. Following these approvals, Caplyta’s sales have experienced substantial growth, and the company anticipates maintaining this positive momentum.

In the third quarter of 2023, Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) reported a loss of $0.25 per share. The incurred loss was narrower than the $0.57 per share loss in the same quarter of the previous year, attributed to increased product sales. The total revenues, which include product sales and grant revenues, reached $126.2 million, marking a significant increase from $71.9 million in the corresponding period of the prior year.

By the end of this year’s third quarter, 37 out of the 910 hedge funds part of Insider Monkey’s research had invested in the company. Intra-Cellular Therapies, Inc. (NASDAQ:ITCI)’s biggest hedge fund investor is David Kroin’s Deep Track Capital through its $135 million stake.