Leerink Partners Starts Acadia Pharmaceuticals (ACAD) at Market Perform

October 4, 2016 6:43 AM EDT
Get Alerts ACAD Hot Sheet
Price: $26.76 -1.76%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Leerink Partners initiates coverage on Acadia Pharmaceuticals (NASDAQ: ACAD) with a Market Perform rating and a price target of $34.00.

Analyst Paul Matteis commented, "We continue to believe that pimavanserin (NUPLAZID) is one of the most differentiated commercial stage assets in CNS and could be attractive to multiple potential buyers, including BIIB (MP) and AGN (OP). However, we are resuming coverage with a neutral view on the stock based on (1) our belief that the pimavanserin roll-out will be slow and steady, given the drug's high price tag and the intrinsic challenges associated with assisting high out-of-pocket cost for Medicare patients and (2) our caution surrounding the upcoming readout for pimavanserin in Alzheimer's Disease Psychosis (ADP), for which we believe there exists at least some credit in the stock today."

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 $30.71 yesterday.



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