Ami Fadia, an analyst from Needham, maintained the Buy rating on ACADIA Pharmaceuticals (ACAD – Research Report). The associated price target was raised to $30.00.
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Ami Fadia has given his Buy rating due to a combination of factors that positively impact ACADIA Pharmaceuticals. A significant reason is the favorable court ruling in Delaware, which confirmed that Aurobindo infringed on ACADIA’s patent claims, thereby extending the intellectual property protection for Nuplazid until 2038. This legal victory removes a major uncertainty surrounding the stock and enhances its potential value.
Additionally, the anticipation of upcoming research and development updates, including new data for ACP-711 and Phase 3 data for ACP-101, further supports the positive outlook. These developments could provide additional growth opportunities for ACADIA, reinforcing the Buy rating as the company progresses in its pipeline advancements.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $26.00 price target.