Needham analyst Ami Fadia maintained a Buy rating on ACADIA Pharmaceuticals today and set a price target of $29.00.
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Ami Fadia’s rating is based on several positive indicators for ACADIA Pharmaceuticals. The company reported a GAAP EPS of $0.42 for the third quarter, which was significantly higher than the consensus estimate of $0.28. This was largely due to a substantial tax rebate and lower-than-expected selling, general, and administrative expenses. Additionally, the sales performance of Nuplazid and Daybue was mostly in line with expectations, with Nuplazid showing a slight increase.
The management has updated their revenue guidance, narrowing the range and increasing the midpoint for Nuplazid, which reflects a positive outlook. Furthermore, the company plans to expand its customer-facing team by 30% in the first quarter of 2026, which is expected to drive further growth. These factors, combined with the positive reception of the direct-to-consumer campaign for Nuplazid, have led to an increased price target of $29, supporting the Buy rating.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $35.00 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.