Needham & Company Maintains a 'Hold' on Acadia Pharmaceuticals (ACAD); Q4 Review: Pimavanserin Study 020 Results Expected in Late 3Q12

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

Analyst, Alan Carr, said, "ACADIA management provided a corporate update in a conference call yesterday. We expect enrollment in the Pimavanserin Phase 3 Study 020 in Parkinson’s Disease Psychosis (PDP) to be completed in 2Q12 and management reiterated guidance for top-line results in late 3Q12. Although we note an EV of only $50M and an attractive commercial opportunity in PDP, we remain cautious due to disappointing results from two previous Phase 3 trials in this indication."

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 $1.48 yesterday.

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