Acadia (ACAD) PT Lifted to $26 at Needham & Company

August 7, 2013 8:52 AM EDT
Get Alerts ACAD Hot Sheet
Price: $31.02 -1.3%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company analyst Alan Carr boosted his price target on Buy-rated Acadia Pharmaceuticals (NASDAQ: ACAD) from $16 to $26 following Q2 earnings results.

"Acadia management provided a corporate update yesterday in a quarterly conference call. Management reiterated guidance for submission of an NDA for pimavanserin in Parkinson's Disease Psychosis (PDP) by YE14," Carr comments. "As a reminder, the FDA indicated in April 2013 that one successful pimavanserin Phase 3 trial (Study 020) in PDP would suffice for a regulatory filing. Given the strength of Study 020 outcome on all primary and secondary endpoints and FDA flexibility, we believe approval is likely in 2H15."

For an analyst ratings summary and ratings history on Acadia Pharmaceuticals click here. For more ratings news on Acadia Pharmaceuticals click here.

Shares of Acadia Pharmaceuticals closed at $20.68 yesterday.

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