ACADIA Pharmaceuticals Reports Second Quarter 2016 Financial Results
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Aegis Capital Downgrades Acadia Pharma (ACAD) to Hold; Sees Nuplazid as Key, but Valuation Now Full
August 5, 2016 11:06 AM EDTAegis Capital downgrades Acadia Pharmaceuticals (Nasdaq: ACAD) from Buy to Hold and moves its price target from $54 to $41 following Q2 rtesults.
On the downgrade, analyst Robert LeBoyer commented, We continue to believe Nuplazid is a breakthrough product for treating Parkinson's disease psychosis (PDP) and is likely to be a longterm success. Sales for the next 12 months depend on third party payors adding Nuplazid to their fomularies for reimbursement. This process takes about 90 days for some Medicare... More
Needham & Company Affirms Acadia Pharma (ACAD) at 'Buy'; Says Initial Nuplazid Sales Affected by Sampling
August 5, 2016 8:19 AM EDTNeedham & Company affirms Acadia Pharma (Nasdaq: ACAD) at Buy with a price target of $49 following Q2 results on Thursday night.
Analyst Alan Carr commented today, Acadia reported $97,000 in Nuplazid 2Q16 sales, compared to our $0.5M and consensus $0.1M estimates. Mgmt reported that extensive use of sampling programs significantly impacted sales. We expect this to continue into 3Q16 and have adjusted our estimates for... More
