Analyst Ananda Ghosh from H.C. Wainwright maintained a Buy rating on ACADIA Pharmaceuticals and keeping the price target at $32.00.
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Ananda Ghosh has given his Buy rating due to a combination of factors that highlight ACADIA Pharmaceuticals’ strong growth prospects and strategic positioning. The company has demonstrated robust commercial performance with its product Nuplazid, achieving record sales through expanded market reach and effective marketing strategies. This success, coupled with the potential for long-term protection against generic competition, underscores a stable growth outlook despite future risks.
Additionally, ACADIA’s product Daybue has shown significant growth, with opportunities for further expansion in under-penetrated markets and upcoming international launches. The pipeline candidate ACP-204, targeting Alzheimer’s disease psychosis, is seen as a critical growth driver, benefiting from a differentiated safety profile and favorable regulatory positioning. These elements collectively support a positive long-term growth trajectory for ACADIA, justifying the Buy rating.
In another report released today, Needham also maintained a Buy rating on the stock with a $29.00 price target.
Based on the recent corporate insider activity of 26 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.