Sean Laaman, an analyst from Morgan Stanley, has initiated a new Hold rating on ACADIA Pharmaceuticals (ACAD).
Sean Laaman has given his Hold rating due to a combination of factors surrounding ACADIA Pharmaceuticals. The company’s future growth prospects hinge on the long-term performance of its key products, Nuplazid and Daybue. While Nuplazid is expected to maintain patent protection until 2030, with peak sales projected at around $800 million, the potential for revenue beyond this period remains uncertain.
Additionally, the growth trajectory for Daybue is still being evaluated, with anticipated peak U.S. sales of $650 million by 2035. Furthermore, the potential value of ACADIA’s pipeline, including ACP-204 and ACP-101, adds some upside but is contingent on future developments. These factors contribute to a balanced outlook, justifying the Hold rating with a price target of $20.
In another report released on February 27, Mizuho Securities also maintained a Hold rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACAD in relation to earlier this year.