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Citigroup cuts ACADIA Pharmaceuticals target to $33 after trial miss

  • Citigroup lowered ACADIA Pharmaceuticals’ price target after remlifanserin missed its trial goal.
  • ACADIA shares dropped 10.5% following the mid-stage trial result.
  • Citigroup retained its Buy rating on ACADIA Pharmaceuticals.

Citigroup lowered its price target for ACADIA Pharmaceuticals to $33 from $40 after the company’s Alzheimer's drug remlifanserin missed the primary goal in a mid-stage trial. ACADIA shares fell 10.5%, while Citigroup maintained its Buy rating.

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Citigroup cuts ACADIA Pharmaceuticals target to $33 after trial miss - CoinPost Terminal