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12:00 AM
Mar 10, 2008
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Analyst picks & changes
Company Bank Analyst Coverage Opinion Wk chg 3/7 cls
Acadia (NASDAQ:ACAD) Fortis Patrick Moriarty Price target Buy -16% $8.32
Jefferies Eun Yang Price target Buy
Piper Jaffray Edward Tenthoff Price target Equal weight
Moriarty increased his target to $25 from $22 after the company said it would deliver topline results in 2Q08 from its Phase IIb trial of ACP-104 to treat schizophrenia. Moriarty believes the metabolite of clozabine and partial agonist of dopamine D2 and D3 receptors will show "good antipsychotic efficacy."
Yang lowered her target to $14 from $20 on uncertainty about a partnership for pimavanserin. The company has been targeting a partner since proof of concept data were released in March 2007. She assumes a partnership in 2H08 and now expects approval of the small molecule serotonin (5-HT2A) receptor inverse agonist for schizophrenia in 2012 rather than 2011.
Tenthoff lowered his target to $18 from $23 based on a reduced projected enterprise value. He now expects pimavanserin to have 2015 schizophrenia and psychosis sales of $683M, but had previously anticipated $975M. He also said a partnership for the compound will be a key near-term value driver. Tenthoff expects a 2009 NDA submission for Parkinson's disease psychosis to be followed by a 2010 product launch.
Alkermes (NASDAQ:ALKS) Pacific Growth Patricia Bank Downgrade Neutral (from buy)...

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