Acadia Pharma (ACAD): KOL Call Indicates Slow NUPLAZID Adoption - Piper Jaffray

October 5, 2016 6:31 AM EDT
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Price: $27.15 +2.53%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of Acadia Pharmaceuticals (NASDAQ: ACAD) after Piper Jaffray hosted an investor call with a doctor viewed as an expert in Parkinson’s Disease research and clinical care. This KOL was appreciative of the unmet need in PDP and has had positive experience with NUPLAZID in his clinic since launch. However, his desire for first-hand and long-term experience with the agent versus off-label Seroquel supports the view of "gradual uptake" in this market.

The analyst is remain conservative with his model during these early days ($2.5M in 2H16, $20.3M in 2017). However, he remains a buyer and is bullish on the long-term potential in PDP ($950M in 2030) with significant upside from life cycle management to address large markets such as AD NPS or LBD.

No change to the price target of $44.

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 $29.10 yesterday.



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Piper Jaffray, Charles Duncan

Comments

Not sure about the analysts conclusion
Ramin on 2016-10-05 07:44:35
Mark as Spam | Reply to this comment

Fast or slow/gradual uptake is no factor in determining long-term experience. The only factor having an effect on this is the time Nuplazid has been on the market, and that is not long enough for long-term experience, regardless of the uptake speed. I cannot share the analysts conclusion about the "gradual uptake" based on the doctors desire. On top of that, if his desire is to have more first-hand experience, maybe he really isn't a KOL.


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