Acadia Pharmaceuticals Gets Price Target Bumps By Analysts After FDA Approval Of Rett Syndrome Drug

The FDA approved Acadia Pharmaceuticals Inc's ACAD Daybue (trofinetide) for Rett syndrome in adult and pediatric patients two years of age and older.

Daybue is the first and only drug approved for treating Rett syndrome, a rare genetic neurological and developmental disorder that causes a progressive loss of motor skills and language. Rett syndrome primarily affects females.

Acadia Pharmaceuticals shares dropped 4.7% to close at $19.41 on Friday and added 0.2% in today’s pre-market trading session.

These analysts made changes to their price targets on Acadia Pharmaceuticals following the release of results.

• HC Wainwright & Co. raised the price target on Acadia Pharmaceuticals from $25 to $28. HC Wainwright & Co. analyst Andrew Fein maintained a Buy rating.
• Citigroup increased the price target on Acadia Pharmaceuticals from $19.4 to $21. Citigroup analyst Neena Bitritto-Garg maintained a Neutral rating.
• Cantor Fitzgerald boosted the price target on Acadia Pharmaceuticals from $28 to $33. Cantor Fitzgerald analyst Charles Duncan maintained an Overweight rating.
• Canaccord Genuity increased the price target on Acadia Pharmaceuticals from $24 to $26. Canaccord Genuity analyst Sumant Kulkarni maintained the stock with a Buy rating.

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