ACADIA Pharmaceuticals Inc (ACAD) received a Buy rating and a $30 price target from Cantor Fitzgerald analyst Charles Duncan today. The company’s shares opened today at $24.
Duncan noted:
“We are OW on ACAD with a 12-month PT of $30 based on NUPLAZID/pimavanserin in PDP/other neuropsych indications. NUPLAZID remains the only agent approved for PDP against a class of atypical antipsych drugs used off-label. In our view, new patient/revs growth should resume as an awareness campaign gains traction. We see increasingly visible broadening clinical evaluation of pima’ in DRP (and other psych indications) as fueling LT growth, and believe the PoS for these studies is underappreciated at current trading levels. Valuation Summary In valuing ACAD, we used a discounted NPV revenue calculation.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.2% and a 49.8% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
ACADIA Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $40.60.
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The company has a one-year high of $28.67 and a one-year low of $12.77. Currently, ACADIA Pharmaceuticals Inc has an average volume of 1.4M.
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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.
