Analyst Sean Laaman of Morgan Stanley maintained a Hold rating on ACADIA Pharmaceuticals (ACAD – Research Report), retaining the price target of $20.00.
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Sean Laaman has given his Hold rating due to a combination of factors surrounding ACADIA Pharmaceuticals’ current performance and future prospects. The company’s recent sales figures for Nuplazid and Daybue have largely met market expectations, indicating stable performance. However, while there is momentum in sales and pipeline updates, the growth outlook remains cautious as the company has only modest expectations for ex-US sales this year.
Furthermore, the anticipated data from the ACP-101 Phase 3 study has been moved up, which is encouraging, but the overall impact on the company’s valuation remains uncertain. The management’s focus on expanding patient outreach and awareness campaigns for Nuplazid is promising, yet the long-term effects of these initiatives are still to be fully realized. Therefore, the Hold rating reflects a balanced view of the company’s current achievements and the potential risks and uncertainties in its growth strategy.
In another report released yesterday, Mizuho Securities also maintained a Hold rating on the stock with a $20.00 price target.