H.C. Wainwright analyst Ananda Ghosh maintained a Buy rating on ACADIA Pharmaceuticals today and set a price target of $32.00.
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Ananda Ghosh has given his Buy rating due to a combination of factors, primarily centered around the promising uptake and sales growth of Daybue, a treatment developed by ACADIA Pharmaceuticals. The drug has shown a 14% year-over-year increase in sales, reflecting a steady rise in patient adoption and persistence, which is a positive indicator for the company’s financial performance.
Furthermore, insights from key opinion leaders (KOLs) reveal that Daybue is being increasingly prescribed across a broader range of Rett syndrome patients, from mild to severe cases. This expansion is largely driven by caregiver requests and the drug’s perceived benefits, such as improved patient alertness and communication. Additionally, the strong reimbursement infrastructure and lack of significant access issues further support the drug’s market potential, reinforcing Ghosh’s positive outlook on ACADIA Pharmaceuticals’ stock.
According to TipRanks, Ghosh is a 3-star analyst with an average return of 8.8% and a 55.56% success rate. Ghosh covers the Healthcare sector, focusing on stocks such as Structure Therapeutics, Inc. Sponsored ADR, ACADIA Pharmaceuticals, and Dyne Therapeutics.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $38.00 price target.