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Fly News Breaks for October 16, 2018
ACAD
Oct 16, 2018 | 06:58 EDT
Cantor Fitzgerald analyst Charles Duncan raised his price target for Acadia Pharmaceuticals to $27 and reiterates an Overweight rating on the shares. Acadia in August announced a licensing agreement with Neuren Pharmaceuticals for Trofinetide in Rett syndrome, Duncan tells investors in a research note. The analyst believes this is an underappreciated asset that could diversify the company's pipeline strategy over the next 12 months. After meeting with Neuren, Duncan has enhanced conviction on Trofinetide and believes that the path forward increases Phase 3 probability of success in the "as-yet untreatable neurodevelopmental disorder."
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