In a report released today, Ami Fadia from Needham maintained a Buy rating on ACADIA Pharmaceuticals (ACAD – Research Report), with a price target of $28.00.
Ami Fadia has given his Buy rating due to a combination of factors that highlight ACADIA Pharmaceuticals’ promising position in the market. The company’s management team, including the CEO, CFO, and Head of R&D, participated in a discussion at the Needham Healthcare Conference, which provided insights into their strategic direction and operational stability.
Fadia’s positive outlook is supported by ACADIA’s robust revenue base, which is projected to surpass $1 billion this year, and its strong development pipeline. Notably, upcoming data releases for their key projects, such as ACP-101 for hyperphagia in PWS and ACP-204 for Alzheimer’s disease psychosis, are anticipated to drive future growth. These elements collectively reinforce the Buy rating, reflecting confidence in ACADIA’s potential for medium-term expansion.
In another report released on April 3, RBC Capital also maintained a Buy rating on the stock with a $26.00 price target.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACAD in relation to earlier this year.