2022-11-14 07:52:54 ACAD Acadia Pharmaceuticals
11/14/22 11/1407:52 11/14/2207:52 | Acadia Pharmaceuticals price target lowered to $17 from $19 at JPMorganJPMorgan analyst Tessa Romero lowered the firm's price target on Acadia Pharmaceuticals to $17 from $19 and keeps an Overweight rating on the shares. The analyst sees Acadia "working through a period of reset." For the legacy business of Nuplazid in Parkinson's disease psychosis, Romero sees a "somewhat challenged overall outlook." Romero believes trofinetide for the treatment of the rare neurodevelopmental disorder, Rett Syndrome, likely represents the second approved drug for Acadia with its March 12, 2023 FDA action date. However, she expects a "more gradual ramp for the product as the market is built." |
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