Jefferies analyst Chris Howerton raised the firm’s price target on Acadia Pharmaceuticals to $15 from $10 and keeps an Underperform rating on the shares after the company announced that the FDA has approved Daybue for the treatment of Rett syndrome in adult and pediatric patients two years of age and older. The Rett approval "comes as no surprise to us," said the firm, which believes the market may be overpricing the commercial opportunity, though it boosted its trofinetide sales estimates by about double on higher-than-expected pricing and expectations for a faster ramp.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ACAD:
- Acadia Pharmaceuticals price target raised to $20 from $19 at Mizuho
- Acadia Pharmaceuticals price target raised to $28 from $24 at TD Cowen
- Acadia Pharmaceuticals price target raised to $26 from $24 at Canaccord
- Acadia Pharmaceuticals price target raised to $33 from $28 at Cantor Fitzgerald
- Acadia Pharmaceuticals price target raised to $21 from $19.40 at Citi