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 the appointment of James (Randy) R. Owen, M.D., as Senior Vice President, Clinical Development and Chief Medical Officer. Dr. Owen will be responsible for evolving and executing the clinical development programs for ACADIA’s product candidates and report to Serge Stankovic, M.D., M.S.P.H., ACADIA’s Executive Vice President, Head of Research and Development.
“Randy brings significant expertise in clinical research and development along with a deep knowledge of CNS science,” said Steve Davis, ACADIA’s President and Chief Executive Officer. “He has led the development and approval of important therapeutics in CNS and will be a valued addition to the ACADIA team as we seek to help patients who suffer from serious neurological and psychiatric disorders.”
Dr. Owen most recently served as Vice President, U.S. Clinical Affairs at Lundbeck LLC from 2010 to 2016. During his tenure, his team of medical experts and scientists made significant contributions in drug development across a wide range of neurological and psychiatric disorders, including innovative development programs in schizophrenia, Alzheimer’s disease and stroke, as well as pediatric and adult orphan indications. Prior to joining Lundbeck, Dr. Owen served as Group Director, Global Clinical Researchat Bristol-Myers Squibb Company where he co-led the life-cycle management of Abilify® during a period of product extensions in psychiatric indications in the United States and Europe. Dr. Owen received his B.A. atHaverford College and his M.D. at East Tennessee State University, Quillen College of Medicine. He completed his residency at Emory University and is board certified in psychiatry.(Original Source)
Shares of Acadia closed last Friday at $24.52. ACAD has a 1-year high of $51.99 and a 1-year low of $20.42. The stock’s 50-day moving average is $31.18 and its 200-day moving average is $37.11.
On the ratings front, Acadia has been the subject of a number of recent research reports. In a report issued on January 22, Piper Jaffray analyst Charles Duncan upgraded ACAD to Buy, with a price target of $39, which implies an upside of 59.1% from current levels. Separately, on December 15, Leerink Swann’s Paul Matteis maintained a Buy rating on the stock and has a price target of $47.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charles Duncan and Paul Matteis have a total average return of -3.3% and -31.5% respectively. Duncan has a success rate of 36.7% and is ranked #2938 out of 3608 analysts, while Matteis has a success rate of 10.3% and is ranked #3547.
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.