In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on ACADIA Pharmaceuticals Inc (NASDAQ: ACAD), with a price target of $25. The company’s shares closed yesterday at $14.60, close to its 52-week low of $12.77.
Duncan observed:
“. We reiterate our Overweight rating and 12-month PT of $25, driven by NUPLAZID/pimavanserin in PDP/other indications. For NUPLAZID, while cautious on near-term rev growth (note), we believe new patient adds should resume as an awareness campaign gains traction yet in 2018. Furthermore, based on recent due diligence, we see a broadening clinical evaluation of pima’ as fueling LT growth and believe the PoS for current studies is underappreciated at current trading levels. We recently spoke to management and provide incremental, but key, takeaways below. Closer look – MDD study doesn’t make us depressed.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.3% and a 48.4% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Corcept Therapeutics Inc, and Intra-Cellular Therapies.
ACADIA Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $33.60.
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Based on ACADIA Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $63.27 million. In comparison, last year the company had a GAAP net loss of $67.44 million.
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ACADIA Pharmaceuticals, Inc. operates as a biopharmaceutical company focused on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. It operates through development and commercialization of innovative medicines segment.
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