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Fly News Breaks for November 8, 2016
ACAD
Nov 8, 2016 | 06:33 EDT
As previously reported, BofA/Merrill upgraded ACADIA to Buy from Neutral. Analyst Tazeen Ahmad said ACADIA reported Q3 Nuplazid sales of $5.3M, above his $2M estimate and consensus of $2.7M. Ahmad sees meaningful upside supported by management's comments that the upcoming Alzheimer Psychosis trial may not need to be statistically significant to warrant advancement. The analyst lowered his price target to $35 from $39 to reflect raised opex estimates and a smaller EU market.
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