HC Wainwright says that a negative AdCom vote on Acadia Prescribed drugs Inc’s (NASDAQ:ACAD) most likely marks the conclusion of the Alzheimer’s disease psychosis (ADP) story for now.
Even so, hunting outside of the ADP, the analysts think Acadia’s pipeline however has possibilities in new indications like the Rett syndrome and for the label expansion of pimavanserin for the damaging symptoms of schizophrenia.
Ultimately, the detrimental AdCom may likely end result in an Fda rejection for the ADP program. As a result the analysts lowered the selling price target from $36 to $20.
Relevant: Why ACADIA Pharmaceuticals Shares Are Investing Better Today?
Mizuho writes that Acadia has performed its very best to broaden the label for pimavanserin beyond Parkinson’s condition psychosis. Mizuho retains its cost goal at $27 with a Neutral ranking unchanged.
According to the analysts, the agency will most likely reiterate its unique request for another research, which is almost certainly a motive for the Neutral ranking.
The stock was up 20% following the launch of the briefing document just after this adverse AdCom, it will likely give some of the price tag appreciation again.
RBC Money believes the stock implication is constrained at recent stages, supplied a PDP ground. The analysts are on a route to repositioning valuation, wherein the set up for ACAD continues to be serviceable income technology from Nuplazid, optionality left for pimavanserin in Schizo-NS, and a extensive-shot ADP.
The 2nd drug, NDA-established trofinetide, emerged as an additional leg of expansion. It lowered the price tag focus on from $32 to $26 with an Outperform ranking.
Price Action: ACAD shares are down 33.47% at $12.98 for the duration of the marketplace session on the very last verify Tuesday.