Cantor Fitzgerald Thinks ACADIA Pharmaceuticals Inc’s Stock is Going to Recover


In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Buy rating on ACADIA Pharmaceuticals Inc (NASDAQ: ACAD), with a price target of $25. The company’s shares opened today at $15.20, close to its 52-week low of $12.77.

Duncan said:

“We are Overweight on ACAD with a 12-month PT of $25 based on NUPLAZID/ pimavanserin in PDP/other neuropsych indications. Our contrarian view is based on long-standing & recently updated pima’ diligence leading us to dismiss issues raised in the media that have challenged, albeit we believe temporarily, NUPLAZID sales & ACAD shares. Why? NUPLAZID remains the only agent approved for PDP against a class of atypical antipsych drugs used off-label with known safety challenges.”

According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.2% and a 48.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Deciphera Pharmaceuticals Inc, and Corcept Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ACADIA Pharmaceuticals Inc with a $33.60 average price target.

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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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