Needham & Company Maintains a 'Hold' on Acadia Pharmaceuticals (ACAD); 2012 Preview: Cautious in Front of Pimavanserin Phase 3 Results Expected in 3Q12

Needham & Company maintains a 'Hold' on Acadia Pharmaceuticals (NASDAQ: ACAD).

Needham analyst says, "ACADIA plans to announce results from its third Phase 3 trial of pimavanserin in Parkinson’s disease psychosis (PDP; Study 020) around 3Q12. We remain cautious due to disappointing results from two previous Phase 3 trials in this indication. Based on a retrospective analysis of data, management believes that certain changes in trial design could lead to a positive outcome. However, insufficient data from these analyses have been disclosed for us to fully assess whether changes applied to Study 020 will have a favorable impact on outcome."

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 $1.10 yesterday.

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