Cowen Raises Price Target on Acadia Pharma (ACAD) Following 2Q15
Cowen reiterated an Outperform rating on Acadia Pharmaceuticals (NASDAQ: ACAD), and raised the price target to $50.00 (from $43.00), following 2Q15 results. ACAD reported 2Q15 EPS of $(0.39) vs consensus of $(0.33).
Analyst Ritu Baral commented, "ACAD's 2Q15 call was largely uneventful with ACAD saying it was on track from its NDA submission, but indicating further delays in the enrollment of its Ph2 Alzheimer's psychosis study, being conducted in the UK. We are raising our price target from $43 to $50 ahead of the upcoming NDA submission for Parkinson's Psychosis which is on track to occur in 2H15."
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Shares of Acadia Pharmaceuticals closed at $45.15 yesterday.