Deutsche Bank raises Acadia Pharma price target after EU approval of Daybu for Rett syndrome.

Deutsche Bank increased its price target for Acadia Pharmaceuticals to $38, indicating a potential 25% upside from current prices. This follows the European Commission's approval of Daybu (trofinetide) as the first treatment for Rett syndrome in the EU, expanding Acadia's market across 30 European countries. Additionally, new prescriptions for Nuplazid, used to treat Parkinson's disease psychosis, rose 20% year-over-year, supporting the company's growth outlook.