Mizuho downgraded Acadia Pharmaceuticals to Neutral from Buy with a price target of $25, down from $39. Given the failed ADVANCE-2 trial, the firm removed sales forecast for Nuplazid in negative symptoms of schizophrenia. The analyst now sees no near-term major catalysts in 2024 for the shares. The next major catalyst for Acadia could be in late 2025 or early 2026, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ACAD:
- Acadia Pharmaceuticals should be bought on weakness, says Mizuho
- Australian Stocks: Neuren’s (NEU) Daybue Sales Fail to Impress, Shares Plunge
- Acadia Pharmaceuticals provides FY24 product sales guidance
- Acadia Pharmaceuticals reports Q4 EPS 28c, consensus 30c
- ACADIA Pharmaceuticals Inc. (ACAD) Q4 Earnings Cheat Sheet
