These Analysts Boost Their Forecasts On Acadia Pharmaceuticals

ACADIA Pharmaceuticals Inc ACAD announced a favorable court ruling on Friday.

The U.S. District Court for the District of Delaware upheld the validity and found infringement of Acadia’s ‘721 formulation patent for NUPLAZID (pimavanserin), a treatment for Parkinson’s Disease Psychosis.

The decision protects the 34 mg capsule formulation from generic competition until 2038, blocking challenges from Aurobindo Pharma and other generic drugmakers.

“We are very pleased with today’s decisive ruling in our favor, which provides patent protection for NUPLAZID 34 mg capsule formulation into 2038,” said Catherine Owen Adams, Chief Executive Officer. “This result highlights Acadia’s dedication to safeguarding our advancements in therapies for conditions with significant unmet medical needs.”

ACADIA Pharmaceuticals shares gained 26.5% to close at $22.26 on Friday.

These analysts made changes to their price targets on ACADIA Pharmaceuticals following the announcement.

• Needham analyst Ami Fadia maintained ACADIA Pharmaceuticals with a Buy and raised the price target from $27 to $30.
• HC Wainwright & Co. analyst Andrew Fein maintained the stock with a Buy and boosted the price target from $27 to $32.

Considering buying ACAD stock? Here’s what analysts think: