Acadia Pharmaceuticals price target raised to $19 from $17 at Oppenheimer

Oppenheimer raised the firm’s price target on Acadia Pharmaceuticals (ACAD) to $19 from $17 and keeps a Perform rating on the shares. The firm sees the Delaware court’s verdict in favor of Acadia as consistent with its expectations for Nuplazid intellectual property protection while removing a perceived overhang on the shares. The court specifically concluded that Acadia demonstrated by preponderance of evidence that Aurobindo infringes patent claims, the analyst tells investors in a research note. Opco now anticipates investor focus to reset back to key dynamics following the Q1 update and ahead of research and development day on June 25.