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Needham & Company Boosts PT on Acadia Pharmaceuticals (ACAD) by 78%

April 11, 2013 11:02 AM EDT Send to a Friend
Get Alerts ACAD Hot Sheet
Price: $24.76 -3.54%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 20 | New: 23
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Needham & Company analyst Alan Carr boosted his price target on Acadia Pharmaceuticals (NASDAQ: ACAD) from $9 to $16 it was announced this morning that only one successful Phase 3 trial of pimavanserin in Parkinson Disease Psychosis (PDP) will be needed for an NDA filing.

"We had expected an NDA submission around mid-2015 and launch mid-2016, but believe these events may be moved up by ~9 months to late 2014 and late 2015, respectively," the analyst said. "We view this development as another indicator of increasing flexibility at the FDA as well as recognition of the strength of the Study 020 data in PDP."

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 are up 48 percent to $11.84.




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