January 4, 2017: Hearing takeover rumors circulating about biotechnology firm ACADIA Pharmaceuticals. The rumor is that Pfizer is interested in buying ACADIA Pharmaceuticals in the $45 per share price range. Could not find the source of the rumors.
December 21, 2016: H.C. Wainwright & Co./ Rodman & Renshaw reiterates a Buy rating on ACADIA Pharmaceuticals and sets a price target of $60.
December 20, 2016: Needham reiterates a Buy rating on ACADIA Pharmaceuticals and sets a price target of $49. Needham likes the positive results from a Phase 2 trial of Nuplazid in Alzheimer’s Disease Psychosis (ADP).
December 20, 2016: ACADIA Pharmaceuticals announced positive top-line results from its Phase II exploratory study (-019 Study) of pimavanserin in patients with Alzheimers disease psychosis (AD Psychosis). As a selective serotonin inverse agonist (SSIA) preferentially targeting 5-HT2A receptors, pimavanserin has a different biological mechanism than other marketed antipsychotics. Pimavanserin has been approved by the United States Food and Drug Administration (FDA) for hallucinations and delusions associated with Parkinsons disease psychosis and currently is being studied in several other disease states, including AD Psychosis. The FDA has not approved any drug to treat AD Psychosis.
In this Phase II exploratory study, pimavanserin met the primary endpoint showing a statistically significant reduction in psychosis versus placebo as measured by the Neuropsychiatric Inventory-Nursing Home (NPI-NH) Psychosis score at week 6 of dosing (p=0.0451). Pimavanserin was generally well-tolerated and the safety profile was consistent with what has been observed in previous studies.
ACADIA Pharmaceuticals Stock Chart
ACADIA Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders.