Acadia Pharmaceuticals price target raised to $27 from $19 at RBC Capital

RBC Capital analyst Gregory Renza raised the firm’s price target on Acadia Pharmaceuticals to $27 from $19 and keeps an Outperform rating on the shares. The company’s Q4 Nuplazid sales beat and in-line outlook for FY23 sets a "positive tone", even though the focus is on the Rett program with upcoming PDUFA date on March 12th, the analyst tells investors in a research note. The firm adds that it remains optimistic going into the decision and believes that the newly disclosed LILAC OLE data also supports FDA approval.