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12:00 AM
 | 
Apr 16, 2007
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 4/13 cls
Acadia (ACAD) JMP Securities Charles Duncan Price target Market outperform -1% $15.47
Duncan raised his target to $21 from $18. He said the $89M follow-on announced earlier this month reduces financial risk while positive data from a Phase II trial of ACP-103 to treat schizophrenia reduce clinical risk (see BioCentury, March 26). He expects the small molecule serotonin (5-HT2A) receptor inverse agonist to be partnered for late-stage development and commercialization in late 2007 or early 2008.
Acorda (ACOR) Deutsche Bank Jennifer Chao New Buy 10% $23.54
Friedman Billings Ramsey David Amsellem New Market outperform
Chao set a $29 target. She expects Fampridine-SR, a sustained-release formulation of 4-aminopyridine (4-AP), to enter a second Phase II trial this quarter to improve walking ability in multiple sclerosis patients. She said an NDA could be submitted in 4Q08 or 1Q09.
Amsellem said Fampridine-SR poses a low regulatory risk, and that the competitive landscape is open as it complements available disease-modifying agents...

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