What's Going On With Acadia Pharmaceuticals Stock?

Acadia Pharmaceuticals Inc. ACAD shares are trading higher Wednesday after the company won summary judgement in a patent suit regarding its Nuplazid drug.

What To Know:

According to court documents, Acadia won the the judgment over MSN Laboratories regarding its patent of Nuplazid.

Acadia shares are moving on very heavy volume with more than 9.75 million shares already traded in the session. According to data from Benzinga Pro, the 100-day average volume for the stock is 1.637 million shares.

Citigroup analyst David Hoang initiated coverage on Acadia Pharmaceuticals with a Buy rating and announced a price target of $38 on Wednesday.

Deutsche Bank analyst Neena Bitritto-Garg initiated coverage on Acadia Pharmaceuticals with a Buy rating and announced a price target of $25 Tuesday.

Of the analysts that cover Acadia Pharmaceuticals, 14 have positive ratings, five have neutral ratings and one has a negative rating.

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ACAD Price Action: According to Benzinga Pro, Acadia Pharmaceuticals shares are up by 35% at $28.70 at the time of publication.

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