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

Published 14/03/2023, 12:28
© Reuters.  Acadia Pharmaceuticals Gets Price Target Bumps By Analysts After FDA Approval Of Rett Syndrome Drug
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Benzinga - The FDA approved Acadia Pharmaceuticals Inc's (NASDAQ: 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.

Read More: Top 5 Financial Stocks That Are Preparing To Pump In March

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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