Analyst Sumant Kulkarni from Canaccord Genuity maintained a Buy rating on ACADIA Pharmaceuticals (ACAD – Research Report) and keeping the price target at $32.00.
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Sumant Kulkarni has given his Buy rating due to a combination of factors that highlight ACADIA Pharmaceuticals’ promising outlook. The company’s key products, Daybue and Nuplazid, are on track to achieve significant sales, with projections exceeding $1 billion by 2025. This strong performance is supported by the management’s reaffirmation of their sales outlook, despite the inherent challenges in predicting quarterly sales figures.
Additionally, the advancement of the ACP-101 Phase 3 trial timeline into early-4Q25 reflects the company’s strategic positioning and the growing interest from the Prader-Willi syndrome community. Kulkarni also notes the underappreciated opportunity in Rett syndrome, with Daybue stabilizing in the US and potential European approval on the horizon. These factors, combined with a robust pipeline and reasonable valuation, underpin the Buy rating, as the stock appears undervalued at current levels.
In another report released today, Needham also maintained a Buy rating on the stock with a $27.00 price target.
Based on the recent corporate insider activity of 29 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.