Mizuho cuts Acadia to neutral, cites lack of upcoming catalysts

Mizuho has downgraded Acadia Pharmaceuticals (NASDAQ:ACAD) to neutral, citing the failure of a key clinical trial for Acadia’s drug Nuplazid in the treatment of schizophrenia symptoms and a subsequent lack of near-term catalysts.

The investment bank said the stock’s next potential catalysts may not be until late 2025 and 2026, when data readouts could occur for a Phase 3 study of Acadia’s drug ACP-101 in Prader-Willi syndrome and a Phase 2 study of ACP-204 in Alzheimer’s disease psychosis.

Mizuho lowered its price target for the stock to $25 from $39.