BofA lowered the firm’s price target on Acadia Pharmaceuticals to $22 from $26 and keeps a Neutral rating on the shares after the company reported Q1 Daybue revenues of $75.9M, slightly missing their Q1 guidance of $76M-$82M. The firm is encouraged that net patient adds are now positive, but takes a more conservative stance and now models FY24 Daybue sales of $375M and peak risk-adjusted Daybue sales of $716M in 2032.
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Read More on ACAD:
- Acadia Pharmaceuticals price target lowered to $28 from $31 at Baird
- Acadia Pharmaceuticals price target lowered to $30 from $30.19 at Citi
- Acadia Pharmaceuticals sees FY24 NUPLAZID net sales $560M-$590M
- Acadia Pharmaceuticals reports Q1 EPS 10c, consensus 5c
- Acadia options imply 15.2% move in share price post-earnings