The StreetInsider May 6, 2013
Jefferies Maintains Bullish Stance on Acadia Pharmaceuticals (ACAD) after Management Meetings
Jefferies reiterated its Buy rating and $18 price target on Acadia Pharmaceuticals (NASDAQ: ACAD) Monday following positive management meetings.
Analyst Thomas Wei is positive on developments for Acadia's pimavanserin.
"We had an opportunity to meet with ACAD management recently and are incrementally encouraged by commentary on manufacturing timelines for pimavanserin, the rate limiting step to filing, as well as commentary on outside interest in pimavanserin from pharma companies," the analyst said. "We continue to see up to six months of upside potential to the company's guidance for a late 2014 filing.