Tuesday, July 26, 2016 2:30:14 PM
After an investors meeting in New York City this week with ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) touching base about its upcoming commercial launch for Nuplazid, Cowen analyst Ritu Baral reiterates a Buy with a price target of $42.00; essentially a 13% increase from where the stock is currently trading.
Baral finds cautious optimism from the minds of management at ACAD for pipeline drug Nuplazid, the first and only FDA-approved drug created to treat hallucinations and delusions from psychosis people suffering from Parkinson’s disease. Though the analyst believes Nuplazid will eventually pick up in market sales, he notes it will take some time to build up that momentum. Even ACAD understands this; a reason Baral gives for the pharmaceutical company’s delay in providing guidance for the next coming financial quarters. Once the numbers roll in, ACAD fully intends to provide guidance.
Presently, ACAD’s centralized efforts intend to raise awareness of not only the company’s drug, Nuplazid, but also of Parkinson’s Disease Psychosis (PDP). This is a strategy which Baral thinks will serve ACADIA Pharmaceuticals well to “meaningfully increase to prescriber familiarity of the drug and ultimately translate to a realization of full revenue potential.” Baral expects a move from raising awareness to full-focused consumer campaign likely to commence either by early or middle of 2017. While Baral conservatively estimates modeling zero for the second financial quarter, by 2016, she predicts $14.2MM. ACAD has not seen a great deal of payor pushback yet- a positive for the biotech company. Down the road, the analyst forecasts a high gross to net discount in the range of 25 to 40%.
Baral assesses ACAD to be long-term minded, with high hopes that over a span of the next two years, there will be improved insight as far as both the clinical and commercial value of Nuplazid. The analyst believes this insight, “could translate to a more attractive potentially acquisition price and return for shareholders.”
Another study holding a great deal of anticipation for ACAD is its Phase 2 data, which is on track for the fourth quarter, for pimavanserin- another psychosis-treating drug, but for Alzheimer’s disease (ADP). Baral exercises caution, but notes that “ADP would be a very large, untapped market for ACAD.” Facing an FDA delay, this trial could very well be initiated by 2016.
Recent ACAD News
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 09/23/2024 09:14:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/23/2024 08:34:29 PM
- Catherine Owen Adams Succeeds Steve Davis as CEO of Acadia Pharmaceuticals • Business Wire • 09/23/2024 08:15:00 PM
- Acadia Pharmaceuticals to Participate at Upcoming Investor Conferences • Business Wire • 08/28/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:46:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:43:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:40:42 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:39:26 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:37:56 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:35:57 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:33:27 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:31:27 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:29:57 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:27:51 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:25:57 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 08/20/2024 08:23:55 PM
- Ryan Reynolds Announces More to Parkinson’s® Campaign • Business Wire • 08/14/2024 12:04:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 10:05:04 PM
- Acadia Pharmaceuticals to Participate in the Canaccord Genuity 44th Annual Growth Conference • Business Wire • 08/07/2024 08:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 08:13:44 PM
- Acadia Pharmaceuticals Reports Second Quarter 2024 Financial Results and Operating Overview • Business Wire • 08/06/2024 08:05:00 PM
- Acadia Pharmaceuticals to Announce Second Quarter Financial Results on August 6, 2024 • Business Wire • 07/24/2024 08:05:00 PM
- Clinical Data from Open-Label Extension LILAC-1™ and LILAC-2™ Studies Evaluating Long-Term Safety and Efficacy of DAYBUE™ (trofinetide) in Patients with Rett Syndrome Published in Med • Business Wire • 07/18/2024 01:04:00 PM
- Acadia Pharmaceuticals Presents DAYBUE™ (trofinetide) Real-World Evidence and Additional Data in Rett Syndrome at the 2024 International Rett Syndrome Foundation (IRSF) Annual Scientific Meeting • Business Wire • 06/18/2024 01:04:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 10:00:05 PM
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