ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines that address unmet medical needs in neurological and related central nervous system disorders, today announced the publication of new data from its ongoing open-label safety extension study, the -015 Study, with NUPLAZID™ in patients with Parkinson’s disease psychosis (PDP) in the July 31 online issue of theJournal of the American Medical Directors Association (www.jamda.com). This is the first published report evaluating the long-term impact of antipsychotics on mortality and serious adverse events in patients with PDP.
Currently marketed antipsychotics are not approved for PDP and have a black box warning for use in elderly patients with dementia due to increased mortality and morbidity. NUPLAZID was granted Breakthrough Therapy designation from the FDA in 2014 and has the potential to be the first drug approved for the treatment of PDP in the United States. In the -015 study, all patients received NUPLAZID (40 mg). Of 423 patients assessed, 357 received NUPLAZID only, while 66 patients received a currently marketed antipsychotic prescribed by their physician at some point during the study in addition to NUPLAZID. The two groups were well matched at baseline with regard to age (mean of 71-72 years) and other demographic and baseline variables. In a post-hoc analysis, there was a significant increase in the mortality rate of patients who received concurrent treatment with a currently marketed antipsychotic (18.8 deaths per 100 person-years since the first concurrent antipsychotic dose) compared to those who received NUPLAZID only (4.5 deaths per 100 person-years).
There also was a significant increase in treatment emergent serious adverse events in patients who received concurrent treatment with a currently marketed antipsychotic (52.5 first-occurrence events per 100 person-years since the first concurrent antipsychotic dose) compared to those who received NUPLAZID only (17.8 first-occurrence events per 100 person-years). (Original Source)
Shares of Acadia closed yesterday at $47.60. ACAD has a 1-year high of $51.99 and a 1-year low of $19.90. The stock’s 50-day moving average is $45.32 and its 200-day moving average is $38.73.
On the ratings front, Acadia has been the subject of a number of recent research reports. In a report issued on July 1, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on ACAD, with a price target of $50, which implies an upside of 5.0% from current levels. Separately, on May 8, 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, Andrew Fein and Alan Carr have a total average return of 25.9% and 42.8% respectively. Fein has a success rate of 61.6% and is ranked #113 out of 3727 analysts, while Carr has a success rate of 76.3% and is ranked #3.
Overall, 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $43.80 which is -8.0% under where the stock closed yesterday.
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.