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Fly News Breaks for February 27, 2019
ACAD
Feb 27, 2019 | 13:32 EDT
Piper Jaffray analyst Danielle Brill raised her price target for Acadia Pharmaceuticals to $30 following the company's Q4 results. The analyst expects Nuplazid' "modest" revenue growth to continue as safety concerns "slowly subside." She also anticipates a beneficial impact to 2019 sales from the ongoing direct-to-consumer campaign. As such, the company's fiscal 2019 guidance of $275M-$300M "appears in line and readily achievable," Brill tells investors in a post-earnings research note. With Acadia beginning two Phase 3 major depressive disorder trials in the first half of 2019, the analyst expects the shares to start reflecting value for the indication as the program continues to advance. She introduced probability-adjusted numbers at a 25% chance of success into her model and keeps an Overweight rating on Acadia.
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