Shares of Pfizer Inc. (PFE, Financial) advanced despite President Donald Trump criticizing the company in a tweet for increasing the prices of some of its prescription drugs.
Trump said that companies were "merely taking advantage of the poor and others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe and elsewhere." Pfizer raised prices for 100 products a few days ago, weeks after the president promised price reductions.
Acadia Pharmaceuticals Inc. (ACAD, Financial) fell more than 7% on Monday after a report by the Southern Investigative Reporting Foundation's Roddy Boyd raised concerns about the pros and cons of the company's sole drug, Nuplazid. The report, titled "Acadia Pharmaceuticals: This Is Not a Pharmaceuticals Company", said: “This is troubling since evidence is mounting that something is horribly wrong with Acadia’s sole drug, Nuplazid, an anti-psychotic for Parkinson’s disease patients who experience episodic hallucinations and delusions. These are symptoms of a condition called Parkinson’s disease psychosis.”
Delphi Technologies PLC (DLPH, Financial) rose on the back of an upgrade from Morgan Stanley to overweight from equal weight. The bank kept its price target at $55, representing more than 20% upside over current market prices.
Disclosure: The author holds no positions in any stocks mentioned.
