Jefferies cuts PT, earnings forecasts on Australia's Neuren after setback for Rett drug in Europe

Acadia Pharmaceuticals

05/02/2026 20:05

** Jefferies trims PT and annual earnings forecasts for Neuren Pharmaceuticals NEU.AX after setback for Rett treatment drug application from European regulator

    ** NEU on Tuesday said licensee Acadia Pharmaceuticals  has reported that a committee of the European Medicines Agency issued a negative trend vote on its marketing-authorisation application for the trofinetide drug

** Jefferies says following the latest setback, it now assumes EU trofinetide royalties will begin in Q4 rather than Q2, cutting NEU's FY26 NPAT forecast to A$48.1 million ($33.48 million) from A$58.2 million

** Trims its price target to A$27 from A$27.75, maintains "buy" rating

** Stock down 29.1% YTD as of last close

($1 = 1.4366 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))