Ladenburg Thalmann started coverage on shares of ACADIA Pharmaceuticals (NASDAQ: ACAD) in a research note issued on Monday. The firm set a “buy” rating on the stock.
The analysts wrote, “Our investment thesis rests on the prospects of pimavanserin’s clinical development in Parkinson’s disease psychosis (PDP). If the ongoing pimavanserin PDP pivotal trial is successful (September 2012), we believe investors should consider the potential of the drug not only in PDP, but also in other indications such as Alzheimer’s disease psychosis (ADP), co-administration with antipsychotics in schizophrenia and others (on a risk-adjusted basis).”
Separately, analysts at Needham & Company reiterated a “hold” rating on shares of ACADIA Pharmaceuticals in a research note to investors on Wednesday, March 7th.
Shares of ACADIA Pharmaceuticals traded up 0.67% during mid-day trading on Monday, hitting $1.5201. ACADIA Pharmaceuticals has a one year low of $0.90 and a one year high of $2.93. The company’s market cap is $80.4 million.
ACADIA Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of small molecule drugs for the treatment of central nervous system disorders.