Acadia Pharmaceuticals price target raised to $27 from $23 at BofA

BofA raised the firm’s price target on Acadia Pharmaceuticals (ACAD) to $27 from $23 and keeps a Neutral rating on the shares. While “encouraged” by Q2 Daybue growth, the firm notes further acceleration is needed for upside from its current estimates and also awaits several key data readouts in the next 18 months to “understand the pipeline opportunity better,” the analyst tells investors.