Company Update (NASDAQ:ACAD): ACADIA Pharmaceuticals Inc. Appoints Daniel Soland to Board of Directors


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 that  Daniel Soland has joined its Board of Directors. Mr. Soland is a seasoned pharmaceutical executive with over 30 years of experience in the biopharmaceutical industry.

“Dan brings a tremendous wealth of commercial experience to the Board and his perspective and insight will be welcomed as ACADIA advances NUPLAZID™ towards registration and prepares for the planned launch of NUPLAZID in the United States,” said  Leslie L. Iversen, Ph.D., Chairman of ACADIA’s Board of Directors. “In addition to his extensive commercial experience in launching new drugs and life cycle management, he has led manufacturing and quality organizations and has been instrumental in driving growth in the companies he has served.”

Mr. Soland previously served as Senior Vice President and Chief Operating Officer of ViroPharma starting in 2008 until it was acquired in 2014, and as Vice President and Chief Commercial Officer of the Company from 2006 to 2008. During his tenure at ViroPharma, Mr. Soland managed the commercial, manufacturing and quality organizations, helped build the company’s commercial infrastructure in the United StatesEurope, and Canada and led the launch of Cinryze®, one of the most successful ultra-orphan drugs in the United States. Mr. Soland served as President,  Chiron Vaccines, of Chiron Corporation from 2005 to 2006 and led the growth of the vaccine business to over $1 billion in sales. From 2002 through 2005, Mr. Soland served as President and Chief Executive Officer of Epigenesis Pharmaceuticals. Earlier in his career, Mr. Soland worked for GlaxoSmithKline in increasing roles of responsibility from 1993 to 2002, including as Vice President and Director, Worldwide Marketing Operations, GSK Biologicals. He currently serves on the board of directors of Tarsa Therapeutics and DBV Technologies SA. Mr. Soland earned his B.S. in Pharmacy from the University of Iowa(Original Source)

Shares of Acadia closed yesterday at $31.2 . ACAD has a 1-year high of $46.48 and a 1-year low of $15.64. The stock's 50-day moving average is $36.01 and it's 200-day moving average is $30.71.

On the ratings front, Acadia has been the subject of a number of recent research reports. In a report issued on March 12, Needham analyst Alan Carr reiterated a Buy rating on ACAD, with a price target of $38, which implies an upside of 21.8% from current levels. Separately, on the same day, Piper Jaffray's Charles Duncan maintained a Buy rating on the stock and has a price target of $39.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alan Carr and Charles Duncan have a total average return of 41.4% and 8.5% respectively. Carr has a success rate of 72.5% and is ranked #6 out of 3547 analysts while Duncan has a success rate of 52.3% and is ranked #934

In total, 5 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 $31.2 which is 37.2% above 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.

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