Strategic Fit of ACP-101 Promises Future Revenue Growth for Acadia Pharmaceuticals: Analyst
Portfolio Pulse from Vandana Singh
Acadia Pharmaceuticals announced the addition of ACP-101, a Phase 3 development candidate for hyperphagia in Prader-Willi syndrome, to its rare disease portfolio. The company acquired worldwide rights to ACP-101 by acquiring Levo Therapeutics in June 2022. Analysts believe ACP-101 has a strong strategic fit and adds upside optionality for Acadia's future revenue growth.
June 14, 2023 | 6:59 pm
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Acadia Pharmaceuticals adds ACP-101 to its rare disease portfolio, which analysts believe has a strong strategic fit and adds upside optionality for future revenue growth. JMP Securities increased the price target to $31 from $23.
The addition of ACP-101 to Acadia's rare disease portfolio is expected to have a positive impact on the company's future revenue growth. Analysts believe the acquisition has a strong strategic fit with the company's focus on rare diseases. JMP Securities has increased the price target for ACAD, indicating a positive outlook for the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100