Berenberg Starts Acadia Pharmaceuticals (ACAD) at Hold

Berenberg analyst Esther Hong initiates coverage on Acadia Pharmaceuticals (NASDAQ: ACAD) with a Hold rating and a price target of $29.00.

The analyst commented, "While Acadia Pharmaceuticals has an attractive pipeline, we believe the main driver of the stock price will be pimavanserin for dementia-related psychosis (DRP) given the size of the market and that none of the other programmes in development are close to DRP in potential market size. However, the high degree of uncertainty around the programme following the recent FDA complete response letter keeps us on the sidelines for the time being."

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 $26.13 yesterday.

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