HC Wainwright & Co. Maintains Buy on ACADIA Pharmaceuticals, Lowers Price Target to $27
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Andrew Fein maintains a Buy rating on ACADIA Pharmaceuticals (ACAD) but lowers the price target from $33 to $27.
May 09, 2024 | 6:19 pm
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ACADIA Pharmaceuticals maintains a Buy rating by HC Wainwright & Co., though the price target was reduced from $33 to $27.
The maintenance of a Buy rating suggests a positive outlook on ACADIA Pharmaceuticals by HC Wainwright & Co., indicating confidence in the company's fundamentals or growth prospects. However, the reduction in the price target from $33 to $27 could reflect adjustments in valuation models, possibly due to revised earnings forecasts, market conditions, or risk assessment. This mixed signal might lead to short-term uncertainty among investors, balancing the potential for both positive and negative reactions in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100