ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system (CNS) disorders, today announced Edmund P. Harrigan, M.D., has joined its Board of Directors. Dr. Harrigan is a board-certified neurologist with 25 years of executive leadership experience in the pharmaceutical industry, most recently serving as Senior Vice President, Worldwide Safety and Regulatory at Pfizer Inc.
“Ed’s extensive experience with CNS drug development, coupled with his leadership roles in worldwide regulatory and business development operations will be invaluable to ACADIA as we deliver on our vision of building a leading CNS company dedicated to improving the lives of patients through innovative new medicines,” said Leslie L. Iversen, Ph.D., Chairman of ACADIA’s Board of Directors.
Dr. Harrigan’s executive roles at Pfizer span over 18 years and across multiple functions. He served as Senior Vice President of Worldwide Safety and Regulatory for Pfizer from 2012 to 2015, where he led a 3,500-person team in 80 countries that was responsible for collecting, interpreting and reporting clinical safety data for more than 600 marketed products, and managed regulatory interactions with global health agencies. Dr. Harrigan’s previous executive leadership roles at Pfizer include serving as Senior Vice President, Head of Worldwide Business Development, Senior Vice President, Head of Worldwide Regulatory Affairs and Quality Assurance, and Vice President, Head of Neuroscience and Ophthalmology. Earlier in his career at Pfizer, Dr. Harrigan served as Vice President of Clinical Development, Therapeutic Area Head, CNS and Pain.
Before entering the pharmaceutical industry in 1990, Dr. Harrigan was a practicing neurologist for seven years. He currently serves on the Board of Directors of Karuna Pharmaceuticals Inc. Dr. Harrigan earned his B.A. degree in Chemistry from St. Anselm College and holds an M.D. from the University of Massachusetts at Worcester. He also attended the Brain Research Institute at the University of California, Los Angeles. (Original Source)
Shares of Acadia closed last Friday at $39.20, up $0.92 or 2.40%. ACAD has a 1-year high of $51.99 and a 1-year low of $28.60. The stock’s 50-day moving average is $35.71 and its 200-day moving average is $39.52.
On the ratings front, Acadia has been the subject of a number of recent research reports. In a report issued on November 6, Cowen analyst Ritu Baral reiterated a Buy rating on ACAD, with a price target of $50, which represents a potential upside of 27.6% from where the stock is currently trading. Separately, on the same day, Leerink Swann’s Paul Matteis maintained a Buy rating on the stock and has a price target of $52.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ritu Baral and Paul Matteis have a total average return of 19.9% and -15% respectively. Baral has a success rate of 50.0% and is ranked #71 out of 3649 analysts, while Matteis has a success rate of 30.4% and is ranked #3471.
The street is mostly Bullish on ACAD stock. Out of 7 analysts who cover the stock, 5 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $46.00, which represents a potential upside of 17.3% 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.