Why Intra-Cellular Therapies, Inc. (ITCI) Dominated Last Week’s Rally

We recently compiled a list of the These 10 Firms Dominated Last Week’s Rally. In this article, we are going to take a look at where Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) stands against the other stocks that dominated last week’s rally.

Last week saw a strong trading finish with Wall Street’s main indices all settling in the green territory ahead of President-elect Donald Trump’s return to the White House.

Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.

Last week, 10 companies from diverse sectors outpaced their peers. Let’s take a closer look at which publicly-listed firms led the charge and what fueled their impressive performance.

For this week’s list of the 10 biggest advancers, we focused exclusively on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.

A scientist in a lab coat working with petri dishes containing biopharmaceutical drugs.

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

Shares of Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) rallied by 33.02 percent week-on-week to close at $126.2 versus the $94.87 registered the week prior as investors snapped up its shares after news on Monday that Johnson & Johnson is set to acquire the neurological drugmaker for $14.6 billion.

On Monday, January 13, shares of Intra-Cellular Therapies (NASDAQ:ITCI) surged 34 percent alone versus Friday’s stock price, indicating a bullish sentiment among investors.

Johnson & Johnson’s acquisition of the company marks the latest in its string of acquisitions in a bid to drive growth beyond 2025, amid cut-throat competition with other drugmakers for its psoriasis drug Stelara.

With the latest deal, Johnson & Johnson will gain access to Intra-Cellular’s oral drug Caplyta, which was approved to treat schizophrenia and depressive episodes associated with bipolar disorder. The treatment brought in $481.3 million in sales in the first nine months of 2024.

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Disclosure: None. This article is originally published at Insider Monkey.