ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders, announced the presentation of integrated efficacy and tolerability data from its Phase III program with NUPLAZID™ (pimavanserin) at the 19thInternational Congress of Parkinson’s Disease and Movement Disorders held in San Diego.
“Data from the integrated analysis of Phase III studies continue to support the potential for NUPLAZID to safely and effectively treat Parkinson’s disease psychosis, a condition for which there is no approved therapy in the United States,” said Roger Mills, M.D., Executive Vice President, Development and Chief Medical Officer. “Furthermore, data from our open-label safety extension studies indicate that long-term administration of NUPLAZID is generally safe and well tolerated in patients with Parkinson’s disease psychosis and that duration of antipsychotic effect may be maintained for longer than the six weeks investigated in our Phase III placebo-controlled efficacy studies.” (Original Source)
Shares of Acadia closed yesterday at $39.06 . ACAD has a 1-year high of $46.48 and a 1-year low of $19.21. The stock’s 50-day moving average is $38.98 and its 200-day moving average is $35.28.
On the ratings front, Acadia has been the subject of a number of recent research reports. In a report issued on May 8, J.P. Morgan analyst Cory Kasimov maintained a Buy rating on ACAD, with a price target of $45, which implies an upside of 15.2% from current levels. Separately, on the same day, Needham’s Alan Carr maintained a Buy rating on the stock and has a price target of $38.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Cory Kasimov and Alan Carr have a total average return of 12.8% and 38.6% respectively. Kasimov has a success rate of 58.3% and is ranked #292 out of 3629 analysts, while Carr has a success rate of 77.2% and is ranked #4.
The street is mostly Bullish on ACAD stock. Out of 6 analysts who cover the stock, 6 suggest a Buy rating . The 12-month average price target assigned to the stock is $43.80, which represents a potential upside of 12.1% from where the stock is currently trading.
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. It is engaged in the business of development and commercialization of small molecule drugs for the treatment of central nervous system disorders.