Jun. 27 at 6:22 PM
UBS⬆️the PT on
$ACAD to
$32 from
$22 and reiterated at a Buy rating:
"We have become incrementally more positive on the Acadia thesis since the current CEO took the helm, making significant strides on multiple fronts:
1) Daybue has started to stabilize,
2) Nuplazid IP got extended &
3) pipeline diversification has started to work out.
Further, mgmt's confidence around putting long-term guide can continue to drive investor excitement from
here.
We note that multiple SMID-biotech stocks such as
$HZNP,
$ITCI,
$BPMC,
$BIVV outperformed in quarters/year after establishing peak sales guidance for the business.
$ACAD mgmt outlined:
a) potential peak NUPLAZID/DAYBUE sales of
$1.5-2.0b,
b) risk adj peak sales of
$2.5b for pipeline assets, with full peak sales potential of
$12B.
In our view, the stock could potentially generate significant upside on the upcoming PWS read-out in early 4Q25."
