Reassuring Market Adoption of Daybue Fuels Acadia's Strategic Advancements, Analysts Boost Price Targets
Portfolio Pulse from Vandana Singh
Acadia Pharmaceuticals has expanded its licensing agreement for trofinetide with Neuren Pharmaceuticals, acquiring ex-North American rights to the drug. The company expects Q2 sales of $21-$23 million for Daybue and $140-$144 million for Nuplazid. JMP Securities and HC Wainwright have increased their price targets for Acadia, while Needham maintains a Hold rating. The successful launch of Daybue and the acquisition of global rights to trofinetide are seen as strategic moves.
July 14, 2023 | 6:47 pm
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Acadia Pharmaceuticals has expanded its licensing agreement for trofinetide and expects strong Q2 sales. Analysts have increased their price targets for the company.
The news of Acadia Pharmaceuticals expanding its licensing agreement for trofinetide and expecting strong Q2 sales is directly related to the company. The increased price targets from analysts suggest a positive outlook for the company's stock.
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