ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been awarded the California Life Sciences Association’s 2016 Pantheon DiNA Award for Outstanding Therapeutic Product for NUPLAZID™ (pimavanserin), the first and only drug approved by the U.S. Food and Drug Administration for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
The California Life Sciences Association’s (CLSA) DiNA Pantheon Awards recognize achievements and honor excellence in the life sciences sector in California. The Outstanding Therapeutic Product award is given to the most promising or significant new life sciences product approved in the 12 months preceding selection. The selection is made by a panel of life sciences industry leaders, journalists and CLSA board members. This year’s winners will be honored at the 2016 Pantheon Awards ceremony on December 2 at the Westin St. Francis in San Francisco.
“We are honored to be recognized for our team’s hard work and commitment to discovering, developing and commercializing NUPLAZID,” said Steve Davis, ACADIA’s President and Chief Executive Officer. “NUPLAZID represents the culmination of many years of work across our entire organization, and we are gratified by the opportunity to improve the lives of people with Parkinson’s disease psychosis.”
“We are pleased to honor this first-in-class, first-in-disease medication with this year’s Pantheon DiNA Award for Outstanding Therapeutic Product,” said Sara Radcliffe, President and Chief Executive Officer of California Life Sciences Association. “NUPLAZID truly represents the type of innovation and excellence for which theCalifornia life sciences sector is known.” (Original Source)
Shares of ACADIA Pharmaceuticals closed yesterday at $27.21, up $0.35 or 1.30%. ACAD has a 1-year high of $43.30 and a 1-year low of $16.64. The stock’s 50-day moving average is $33.19 and its 200-day moving average is $33.41.
On the ratings front, ACAD has been the subject of a number of recent research reports. In a report issued on October 5, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on ACAD, with a price target of $44, which implies an upside of 62% from current levels. Separately, on October 4, Leerink Swann’s Paul Matteis reiterated a Hold rating on the stock and has a price target of $34.
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 -7.0% and 11.6% respectively. Duncan has a success rate of 35% and is ranked #3943 out of 4184 analysts, while Matteis has a success rate of 59% and is ranked #410.
Overall, 2 research analysts have assigned a Hold rating and 7 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 $46.00 which is 69.1% above where the stock closed yesterday.
ACADIA Pharmaceuticals, Inc. engages in the research, development, and manufacture of pharmaceutical products. It caters to patients with central nervous system disorders such as Parkinson’s disease, Alzheimer’s disease, Schizophrenia, chronic pain, and Glaucoma. Its portfolio consists of Nuplazid, Pimavanserin, Adrenergic, and Muscarinic.