H.C. Wainwright analyst Andrew Fein raised the firm’s price target on Acadia Pharmaceuticals (ACAD) to $32 from $27 and keeps a Buy rating on the shares after a U.S. District court upheld the validity of the company’s ‘721 patent. Given the exclusivity till 2038, Acadia might not have any generic competition, allowing the company to have pricing control along with minimization of payer leverage, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACAD:
- Acadia court ruling alleviates overhang for Nuplazid, says RBC Capital
- Acadia confirms court ruling in favor of Nuplazid formulation patent
- ACADIA Pharmaceuticals: Strengthened Patent Position and Growth Prospects Drive Buy Rating
- Acadia Pharmaceuticals price target raised to $19 from $17 at Oppenheimer
- Acadia Nuplazid patent ruling removes ‘key overhang,’ says BMO Capital