Acadia Pharma (ACAD): KOL Call Indicates Slow NUPLAZID Adoption - Piper Jaffray
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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.
Shares of Acadia Pharmaceuticals closed at $29.10 yesterday.
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