Seekingalpha:
- ACADIA Pharmaceuticals (ACAD +8.9%) has recorded the biggest intraday gain since March after Guggenheim raised its rating on the biotech to Buy from Neutral.
- The analyst Yatin Sunejaa has a favorable view on the company’s upcoming Phase 3 topline data read for its Rett syndrome candidate trofinetide scheduled for Q4 2021.
- “Given the limited investor interest in this program, we like the risk-reward heading into the readout,” Sunejaa wrote with the price target of $23 per share of Acadia (NASDAQ:ACAD), implying a premium of ~28.1% to the last close.
- In addition to the Phase II study, “one more successful trial will be sufficient to file an NDA in 2022,” the firm noted, citing the company management.
- In March 2020, Acadia (ACAD) announced that the FDA granted the Rare Pediatric Disease designation to trofinetide in the treatment of Rett syndrome.
Now +12%
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Last
$20.52 |
Change
0.660(3.32%) |
Mkt cap ! $2.622B | |||
| Open | High | Low | Value | Volume |
| $20.00 | $20.66 | $19.94 | $6.431M | 315.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1024 | $20.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.53 | 285 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| NEU (ASX) Chart |