Needham & Company Remains Bullish on Acadia Pharma (ACAD) Following Positive FDA Vote on Nuplazid

Needham & Company reiterated a Buy rating and $49.00 price target on Acadia Pharmaceuticals (NASDAQ: ACAD) following a vote by the FDA Psychopharmacologic Drugs Advisory Committee in favor of Nuplazid approval for treatment of Parkinson's Disease Psychosis. Committee members generally viewed Nuplazid as effective, with a few expressing disappointment that effect size was not larger.

Analyst Alan Carr commented, "The FDA Psychopharmacologic Drugs Advisory Committee voted yesterday 12-2 in favor of Nuplazid approval for treatment of Parkinson's Disease Psychosis. Although FDA clinical reviewer P. Andreason made clear his serious concerns with Nuplazid risk/ benefit profile, ODE I Deputy Director R. Temple appeared more open-minded. The vote creates a path to approval, which we expect to occur by 5/1/16 PDUFA date. Discussion around Boxed Warning was inconclusive, with some members advocating against one. We reiterate BUY."

For an analyst ratings summary and ratings history on Acadia Pharmaceuticals click here. For more ratings news on Acadia Pharmaceuticals click here.

Shares of Acadia Pharmaceuticals closed at $23.81 yesterday.

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