ACADIA Pharmaceuticals (ACAD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Ritu Baral from TD Cowen maintained a Buy rating on the stock and has a $35.00 price target.
Ritu Baral has given her Buy rating due to a combination of factors that highlight ACADIA Pharmaceuticals’ strong financial performance and promising future prospects. The company reported impressive fourth-quarter net sales for Daybue, which exceeded both consensus and internal estimates, demonstrating increased demand for their product. Additionally, the forecast for Daybue’s revenue in fiscal year 2025 is optimistic, with expectations of a 10% increase in patient referrals as the sales force expands.
Furthermore, ACADIA Pharmaceuticals is making strategic investments in research and development, as well as sales and general administrative expenses, which are expected to drive future growth. The company’s financial health is underscored by its profitability and substantial cash reserves at the end of the fourth quarter. These factors, combined with the anticipated expansion of the Daybue sales force and the initiation of new clinical trials, contribute to the positive outlook and justify the Buy rating.
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