H.C. Wainwright has reiterated its Buy rating and $37 price target for Acadia Pharmaceuticals following the EU’s approval of the company’s Daybue (trofinetide) for treating neurobehavioral symptoms of Rett syndrome in patients aged five and older.
The approval covers the EU27 bloc plus Iceland, Liechtenstein, and Norway, reinforcing Daybue’s commercial prospects. The drug generated $125 million in sales during the second quarter of 2026, exceeding consensus estimates and contributing to total revenue of approximately $308 million for the period. Analysts at H.C. Wainwright noted that Nuplazid and Daybue are projected to reach combined sales of $1.7 billion by 2028.
The stock, which closed at $29.65 on Monday, remains near its 52-week high of $30.96 and has delivered an 18.7% return over the past six months. The average 12-month price target among 10 analysts stands at $37, implying roughly 25% upside from current levels. Wall Street’s consensus rating is 1.76, with price targets ranging from $17 to $49.
Other firms have also revised their outlooks. Oppenheimer raised its target to $25 from $23 while maintaining a Perform rating, while RBC Capital increased its target to $37 from $36. UBS lifted its target to $49 from $45 and raised the probability of success for remlifanserin to 50% from 40%, maintaining a Buy rating. Canaccord Genuity reiterated its Buy rating with a $36 target.
H.C. Wainwright highlighted the completion of enrollment for the Phase 2 RADIANT trial, with data expected by September or October following a 30-day safety follow-up period. Separate research published in the JAMA Health Forum in 2026 found that all orphan drugs in a 79-drug sample launched in at least one reference country within five years, with an 85% launch rate for non-orphan drugs under new U.S. pricing models.
