Needham analyst Ami Fadia has maintained their bullish stance on ACAD stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ami Fadia’s rating is based on a combination of factors that highlight ACADIA Pharmaceuticals’ strong performance and promising outlook. The company reported a GAAP EPS of $0.16 for the second quarter, which exceeded consensus estimates by $0.02, indicating robust financial health. This was driven by better-than-expected sales of both Nuplazid and Daybue, along with effective cost management in R&D and SG&A.
Furthermore, ACADIA’s products are showing strong momentum going into the second half of the year. Daybue benefits from a solid patient base and increasing referrals, while Nuplazid achieved its highest shipment volumes, aided by a successful consumer campaign. With significant pipeline catalysts anticipated over the next 18 months, including the upcoming ACP-101 Phase 3 data, Ami Fadia views the risk-reward profile of ACADIA Pharmaceuticals favorably, justifying the Buy rating.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $35.00 price target.