We recently published a list of 10 Surprising Stocks That Skyrocketed Today. In this article, we are going to take a look at where ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) stands against other Friday’s top performers.
The stock market finished the trading week in the green territory as investors looked past the series of mixed corporate earnings performance and inflation worries, amid the easing trade tensions between the US and China.
The Dow Jones climbed by 0.78 percent, while the S&P 500 and the tech-heavy Nasdaq grew by 0.70 percent and 0.52 percent, respectively.
Beyond major indices, 10 companies—predominantly Bitcoin miners and quantum computing firms—registered a strong finish, thanks to fresh corporate developments boosting investor appetite.
In this article, we name Friday’s 10 top performers and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
A research scientist looking through a microscope in a lab, symbolizing the biopharmaceutical company’s innovative approach to medical treatments.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)
Acadia Pharmaceuticals soared by 26.48 percent on Friday to finish at $22.26 apiece after securing the backing of a US District Court concerning a patent infringement case versus Aurobindo Pharma (NSE:ARBN).
The case stemmed from a case filed by ACADIA Pharmaceuticals Inc. against Aurobindo for allegedly infringing claims 4 and 5 of US Patent No. 11,452,721. It is alleged that the latter committed patent infringement of its drug Nuplazid.
Additionally, the judge said that Aurobindo failed to prove that ACADIA Pharmaceuticals Inc. claims were invalid.
The ruling marked a significant milestone for ACADIA Pharmaceuticals Inc. to protect its intellectual property rights.
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This article is originally published at Insider Monkey.
