Acadia Shares Rise 10% on Daybu EU Approval Hopes and $37 Price Target
ACAD•Deutsche Bank raised Acadia’s price target to $37 from $32 following the CHMP’s recommendation to approve Daybu for Rett syndrome treatment in the EU. Shares jumped over 10%, valuing the company at about $4.31 billion as investors anticipate Daybu becoming the first authorized Rett syndrome therapy in Europe.
1. Price Target Hike by Deutsche Bank
Analyst David Hoang at Deutsche Bank increased Acadia’s price target to $37 from $32, reflecting a potential upside of 47.7% based on the prior $25.06 share price. The revision underscores growing confidence in Acadia’s late‐stage pipeline value.
2. CHMP Recommends Daybu for Rett Syndrome
The European Medicines Agency’s Committee for Medicinal Products for Human Use issued a positive opinion recommending Daybu for the treatment of neurobehavioral symptoms in Rett syndrome. If finalized by the European Commission, Daybu would become the first authorized therapy for this rare neurological disorder in the EU.
3. Market Reaction and Valuation Impact
Shares of Acadia surged over 10% upon the CHMP recommendation, driving the company’s market capitalization to approximately $4.31 billion. Investors are now pricing in significant revenue from Daybu, alongside existing sales of Nuplazid, as key catalysts for future growth.
