TD Cowen analyst Ritu Baral maintained a Buy rating on ACADIA Pharmaceuticals today and set a price target of $35.00.
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Ritu Baral has given her Buy rating due to a combination of factors that highlight ACADIA Pharmaceuticals’ potential for growth despite recent setbacks. Although the ACP-101 program was discontinued following its failure to meet primary and secondary endpoints in the Phase 3 Prader Willi study, Baral remains optimistic about the company’s future prospects.
ACADIA’s core business is expected to continue its growth trajectory, driven by products like Daybue and Nuplazid. The expansion of Daybue’s salesforce is anticipated to bolster this growth further. Additionally, ACADIA’s robust pipeline, which includes promising developments such as the Phase 2 ADP dataset for ACP-204 and upcoming studies for ACP-211 and ACP-271, provides multiple catalysts for potential value creation through FY26.
In another report released today, Leerink Partners also reiterated a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACAD in relation to earlier this year.