Acadia Pharmaceuticals this morning announced positive results with Nuplazid in major depressive disorder from its Phase 2 trial, Piper Jaffray analyst Danielle Brill tells investors in a research note titled “A Few Tricks, But Mostly Treats for ACAD Today: Data Overall De-Risk MDD Opportunity”. Nuplazid demonstrated statistically significant improvements across multiple efficacy endpoints, says the analyst. She interprets the results as an “overall positive given an evident trend of benefit with Nuplazid.” While the results aren’t a clear “homerun,” share upside of around 15% is warranted, Brill contends. She estimates such a move would reflect a 20%-30% risk adjusted major depressive disorder opportunity of $750M. Brill keeps an Overweight rating on Acadia with a $25 price target. The stock in morning trading is down 3%, or 68c, to $20.41.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.