Oppenheimer lowered the firm’s price target on Acadia Pharmaceuticals to $17 from $19 and keeps an Outperform rating on the shares. Acadia reported Q1 results and continues to prioritize profitability with positive EPS of 10c, above consensus estimates, as the Nuplazid franchise now generates over $300M in annualized cash flow, the analyst tells investors in a research note. The firm appreciates Acadia’s commentary on the business development strategy following the failed Phase 3 ADVANCE-2 trial, while the ACP-204 and ACP-101 studies remain ongoing.
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Read More on ACAD:
- Acadia Pharmaceuticals price target lowered to $27 from $33 at H.C. Wainwright
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