UBS Reiterates Buy Rating on Acadia Pharmaceuticals (ACAD)

UBS analyst Ashwani Verma reiterated a Buy rating and $39.00 price target on Acadia Pharmaceuticals (NASDAQ: ACAD).

The analyst commented, "Pharmaceuticals Specialty: ACADIA Pharmaceuticals Inc (ACAD) is our top pick. We see the current valuation as an appealing set-up for outperformance as: 1) We believe ACP-101 can show favorable efficacy and safety data in the ongoing Ph3 PWS study, which could potentially bring significant upside to the stock. We model 40% penetration for ACP-101 in PWS market, with risk adjusted peak sales of $1.3bn (vs cons $370m). 2) ACAD's existing commercial products Nuplazid and Daybue have an improved outlook with the IP extension and sales force expansion, respectively. For ACAD, we model total risk adjusted revenue of $2.6bn in '29 (vs cons $1.8bn), and we expect a 25% CAGR for 4-yr forward sales growth (vs cons 13%)."

For an analyst ratings summary and ratings history on Acadia Pharmaceuticals click here. For more ratings news on Acadia Pharmaceuticals click here.

Shares of Acadia Pharmaceuticals closed at $24.53 yesterday.

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