Acadia Pharmaceuticals upgraded on improve risk-reward profile following pullback

Bank of America upgraded Acadia Pharmaceuticals (NASDAQ:ACAD) to 'Buy' from 'Neutral', arguing that a recent pullback in the stock has created a more attractive risk-reward profile for investors. The analysts maintained a $29 price objective on the shares, which traded up 6% at $22 on Wednesday afternoon, and wrote that the roughly 25% decline in the stock is “not related to fundamentals and more related to YTD macro factors.