H.C. Wainwright analyst Andrew Fein upgraded Acadia Pharmaceuticals to Buy from Neutral with a price target of $36, up from $18. After speaking with pediatric neurologists specializing in Rett syndrome, the analyst believes trofinetide, if approved, stands to gain “considerable” Rett syndrome market share in the absence of any disease-modifying drugs. The analyst now includes trofinetide in his valuation. Key opinion leaders are optimistic about the Phase 3 Lavender data and keen to prescribe the drug, Fein tells investors in a research note.
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