RBC Lowers Acadia Price Target to $31 After CHMP Trend Vote; Approval Odds Cut
RBC Capital reduced its price target on Acadia Pharmaceuticals (ACAD) to $31 from $35 while keeping an Outperform rating following a negative trend vote from the European regulator's CHMP on trofinetide. The downgrade reflects a sharply lower probability of European approval, though Acadia’s balance sheet and existing approvals elsewhere leave some…