FDA safety review a ‘signal of confidence’ in Acadia drug, says JMP Securities

JMP Securities analyst Jason Butler reiterated a Market Outperform rating and $27 price target on Acadia Pharmaceuticals after the FDA reaffirmed its confidence in Nuplazid safety profile following completion of a comprehensive safety review. Butler sees this as an “important signal of confidence in the drug’s safety profile” and sees this as a clearing event for the stock. He sees these catalysts driving the stock meaningfully higher in the coming months.
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