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Investing.com - Stifel raised its price target on Acadia Pharmaceuticals (NASDAQ:ACAD) to $24.00 from $18.00 on Thursday, while maintaining a Hold rating following the company’s second-quarter earnings report. According to InvestingPro data, ACAD has demonstrated robust performance with a 56.89% return over the past year and maintains a "GREAT" financial health score.
The pharmaceutical company, currently valued at $3.94 billion, demonstrated solid execution for both its Nuplazid and Daybue products, prompting management to raise the low end of its fiscal year 2025 guidance for Nuplazid while reiterating guidance for Daybue. With revenue growth of 14.41% and a strong current ratio of 2.91, InvestingPro analysis reveals 12 additional key insights about ACAD’s financial position.
Daybue added 33 net patients during the quarter, following 34 additions in the first quarter. Management reported seeing greater traction in the community setting, with increasing referrals and new patients, though long-term persistence continues to trend lower, suggesting ongoing tolerability challenges.
Stifel noted that Acadia’s ACP-101 readout for Prader-Willi Syndrome remains on track for early fourth quarter of 2025, describing it as an "upside-skewed event for the stock" despite considering the program high-risk.
The price target increase reflects Acadia’s Nuplazid intellectual property win announced in May, along with some risk-adjusted pipeline credit added to Stifel’s model.
In other recent news, Acadia Pharmaceuticals has reported its second-quarter earnings, surpassing Wall Street expectations. The company achieved an earnings per share of $0.16, exceeding the forecast of $0.14, and reported revenue of $264.6 million, slightly ahead of the $262.44 million forecast. Nuplazid sales amounted to $168.5 million, aligning with consensus expectations, while Daybue sales reached $96.1 million, surpassing estimates of $93.8 million. Following these results, Citizens JMP raised its price target for Acadia Pharmaceuticals from $37.00 to $38.00, maintaining a Market Outperform rating. Similarly, Mizuho (NYSE:MFG) increased its price target from $23.00 to $24.00, keeping a Neutral rating. These developments reflect positive analyst sentiment regarding Acadia’s financial performance.
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