Acadia Pharmaceuticals price target raised to $38 from $26 at RBC Capital

RBC Capital raised the firm’s price target on Acadia Pharmaceuticals (ACAD) to $38 from $26 and keeps an Outperform rating on the shares. The firm is updating its model and believes that the stock represents a solid commercial-stage story with an emerging pipeline, the analyst tells investors in a research note. RBC adds that the “meaningful” recent Nuplazid IP win is providing Acadia with a high likelihood of cash flow sustainability and commercial tailwinds of late, suggesting some continued Nuplazid growth and Daybue stabilization prospects.