Company

Bank

Analyst

Coverage

Opinion

Wk chg

4/12 cls

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)

Ladenburg Thalmann

Juan Sanchez

Price target

Buy

63%

$12.54

MLV

George Zavoico

Price target

Buy

Needham

Alan Carr

Price target

Buy

Piper Jaffray

Charles Duncan

Upgrade

Overweight (from neutral)

Sanchez raised his target to $15 from $9 after FDA said existing data, including a single Phase III trial, were sufficient to support an NDA for pimavanserin to treat Parkinson's disease psychosis (PDP). The company plans to submit an NDA at the end of 2014. Pimavanserin is a small molecule serotonin (5-HT2A) receptor inverse agonist.

Zavoico raised his target to $18 from $12.50 on the pimavanserin news. He thinks Acadia could become profitable in 2016 based on approval and U.S. launch for PDP in 4Q15.