Acadia Pharmaceuticals (ACAD) PT Raised to $19 at Oppenheimer

Oppenheimer analyst Matthew Hershenhorn raised the price target on Acadia Pharmaceuticals (NASDAQ: ACAD) to $19.00 (from $17.00) while maintaining a Perform rating.

The analyst commented, "We see the Delaware court's verdict in favor of ACAD as consistent with our expectations for Nuplazid IP protection while removing a perceived overhang, driving today's upside (ACAD +35% vs. XBI +2%). The court specifically concluded that ACAD demonstrated by preponderance of evidence that Aurobindo infringes claims 4 and 5 of US Patent No. 11,452,721, and also denied MSN's motion for leave to file post-trial reply brief, effectively resolving the outstanding patent litigation. We viewed the prior favorable ruling in Dec. 2023 as positive read-through to this dispute, and we now anticipate investor focus to reset back to key dynamics following the 1Q25 update and ahead of R&D Day (6/25/25). We update our model with adjustments driving our new $19PT vs. $17 prior."

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