Sun Pharma shares rally 5% after US court lifts launch restrictions on autoimmune drug

Sun Pharma shares rallied 5% to their day’s high of Rs 1,735.80 on the BSE on Friday after the company announced that a U.S. court has ruled in its favour, lifting a preliminary injunction and allowing it to launch LEQSELVI, a drug used to treat an autoimmune disorder that causes patchy hair loss.

The drugmaker has been involved in a patent infringement case with Incyte Corporation over LEQSELVI. On April 9, 2025, the U.S. Court of Appeals for the Federal Circuit heard Sun Pharma’s appeal against a preliminary injunction earlier issued by the U.S. District Court for the District of New Jersey. The injunction had delayed the company’s plans to launch the drug in the U.S.

“While the litigation between Incyte Corporation and the company continues, the preliminary injunction is no longer in effect,” the company said in its filing. Sun Pharma added that it is “no longer under a court order that delays or restricts” the drug launch and will disclose its plans “in due course.”


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Sun Pharma shares price target

According to Trendlyne data, the average target price for Sun Pharma stock is Rs 2,054, indicating an upside of 24% from current market levels. The consensus recommendation from 37 analysts is a 'Buy'.

From a technical standpoint, the stock’s Relative Strength Index (RSI) stands at 42.5, which is within the neutral zone (below 30 is considered oversold, and above 70 is overbought). The MACD is at 7.9, which is below both its signal line and center line, suggesting a strong bearish trend. Additionally, Sun Pharma shares are currently trading below their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs), indicating continued weakness.

Sun Pharma shares price performance

In the previous session, Sun Pharma shares closed 2.2% lower at Rs 1,642.10. The stock has declined 14% over the past six months but has gained 63% over the last two years. The company’s market capitalization stands at Rs 3,96,384 crore.

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