On Tuesday Deutsche Bank (ETRBKGn) initiated coverage on Acadia Pharmaceuticals (NASDAQ:ACAD) with a Hold rating and a price target of just $22.00. Amongst other issues the analysts noted" that while the company has a solid foundation there are uncertainties regarding the long-term market penetration and persistency of Daybue. These uncertainties lead to a lower confidence in the fiscal year 2025 estimates and peak sales forecasts for Daybue which are slightly below consensus. Deutsche Bank would need to observe a consistent quarter-over-quarter increase in net patient additions for Daybue to adopt a more constructive stance on Acadia Pharmaceuticals in the near term".
The Deutche Bank have used the simple metric of net patient additions as a basis assessing progress something Acadia management do not seem able to provide in English.This is in line with the Acadia statement that quarterly revenue increases a due to increased unit [bottle] sales but the number of units sold is never provided. Kens
NEU Price at posting:
$13.18 Sentiment: Hold Disclosure: Held
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BKGn) initiated coverage on Acadia Pharmaceuticals (NASDAQ:ACAD) with a Hold rating and a price target of just $22.00.
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