Stifel Stays Sidelined on Acadia Pharma (ACAD) Despite Removal of 'Worst Case Scenario'

Stifel Paul Matteis Hold Acadia Pharmaceuticals (NASDAQ: ACAD) price target of $14.00.

The analyst comments "The FDA maintained the view that the drug's benefits outweigh its risks, and stated it is not making any changes to the drug's label. Our physician checks (mostly academics) had supported the view that the issues raised in the CNN articles were likely to be a red herring, and we therefore weren't expecting any corrective action on the FDA's part. Though today's news completely removes the worst case scenario off the table, we still worry that the negative perception caused by the articles may be confounded with reality for some patients/caregivers/physicians, and that re-educating the marketplace may take time."

For an analyst ratings summary and ratings history on Acadia Pharmaceuticals click Acadia Pharma (NASDAQ: ACAD)
here. For more ratings news on Acadia Pharmaceuticals click here.

Shares of Acadia Pharmaceuticals closed at $15.10 yesterday.

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