The day before the Acadia R&D day [9 hours ago]RBC Capital analyst Gregory Renza [Acadia house broker]raised the price target on Acadia Pharmaceuticals (NASDAQ: ACAD) to $38.00 (from $26.00) while maintaining an Outperform rating.The analyst commented: "ACAD represents a solid commercial-stage story with an emerging pipeline, with a meaningful recent Nuplazid IP win providing a high likelihood of cash flow sustainability and commercial tailwinds of late suggesting some continued Nuplazid growth and Daybue stabilization prospects. Maturing commercial franchises, exposure to macro/policy issues (IRA, MFN), and higher risk to the next pipeline catalyst ('101 for PWS) add some complexity to the setup, but with the scarcity value of $1B + annual revenue from existing products now likely sustainable well into the next decade and at a <$4B cap, stock looks fundamentally undervalued and any pipeline contribution is likely all upside." Kens
NEU Price at posting:
$12.26 Sentiment: None Disclosure: Held
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