Needham & Company Reiterates Acadia Pharmaceuticals (ACAD) at Hold, FDA Decision on pimavanserin's ADP sNDA Remains a Wildcard

Needham & Company analyst Ami Fadia reiterated a Hold rating on Acadia Pharmaceuticals (NASDAQ: ACAD), following the company's most recent quarterly report.

The analyst quotes: "We expect a pullback in ACAD on a lower than expected Nuplazid 2022 sales guidance which came in 4% below consensus expectations at the mid-point of the range, with the R&D guidance range also coming in well above consensus ($355-375M vs $265M cons). Mgt is assuming a growth profile consistent with last year at the mid-point, given the continued impact of the pandemic on patient visits and admissions into long term care facilities. We believe this is realistic given the market trends, although we do see potential for upside should the impact of the pandemic continue to ease. The biggest catalyst for ACAD this year will be the FDA decision on pimavanserin's ADP sNDA on which we expect a decision in 3Q22, but this remains a wildcard in our view, thus, we remain on the sidelines for now."

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 $25.41 yesterday.

By Vlad Schepkov | [email protected]

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