ACADIA Pharmaceuticals (ACAD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Evan Seigerman from BMO Capital reiterated a Buy rating on the stock and has a $24.00 price target.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Evan Seigerman has given his Buy rating due to a combination of factors surrounding ACADIA Pharmaceuticals. The recent favorable court ruling in the patent infringement case against Aurobindo has significantly strengthened ACADIA’s intellectual property position. This decision extends the patent protection for Nuplazid, a key product, potentially up to 2038, which alleviates previous concerns about the erosion of its revenue base.
Furthermore, this legal victory enhances investor confidence in ACADIA’s long-term growth prospects. The company is actively working on diversifying its pipeline and has shown positive momentum with the recent launch of Daybue. The accelerated timeline for the Prader-Willi syndrome readout further supports the company’s growth trajectory, making it an attractive investment opportunity.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $26.00 price target.