Acadia Pharmaceuticals should be bought on weakness, says Mizuho

Mizuho analyst Uy Ear lowered the firm’s price target on Acadia Pharmaceuticals to $39 from $40 and keeps a Buy rating on the shares. With investor focus on the Daybue launch, the stock will likely trade down today, the analyst tells investors in a research note. The firm would buy the shares on weakness. Investors are likely disappointed by the soft 2024 Daybue sales guidance, driven primarily by unexpected seasonal dynamics in January, says the firm. However, Mizuho does not believe this dynamic significantly diminishes the $1B peak sales potential it models for 2030.