We recently published a list of 10 Firms Dominate Monday Upsurge. In this article, we are going to take a look at where Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) stands against other firms that dominated Monday upsurge.

Ten companies—predominantly in the healthcare sector—kicked off Monday’s trading with notable gains amid a series of business updates, earnings, and acquisition deals that have fueled investor confidence.

Their gains outperformed mixed trading on Wall Street, with the Dow Jones and S&P’s main index the only gainers, up 0.86 percent and 0.16 percent, respectively. Meanwhile, the Nasdaq Composite dropped by 0.38 percent.

In this article, we will take a look at what buoyed the companies’ share prices.

To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

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) jumped by more than 34 percent on Monday to end at $127.19 apiece following news that it was set to be acquired by Johnson & Johnson (JNJ) for $14.6 billion. The transaction would mark the latter’s biggest deal in more than two years, bolstering its presence in the brain disease treatments market.

Johnson & Johnson was said to have offered to buy Intra-Cellular shares at a price of $132 each.

The agreement would provide Johnson & Johnson with access to Intra-Cellular’s (NASDAQ:ITCI) oral treatment, Caplyta, which is approved in the U.S. for schizophrenia and bipolar disorder-related depressive episodes, along with other experimental drugs in the pipeline.

Overall, ITCI ranks 1st on our list of firms that dominate Monday upsurge. While we acknowledge the potential of ITCI, our conviction lies in the belief that some 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.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

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