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Fly News Breaks for April 10, 2018
ACAD
Apr 10, 2018 | 07:11 EDT
JPMorgan analyst Cory Kasimov says Acadia Pharmaceuticals management stressed to him their confidence that yesterday's CNN article would have little impact on Nuplazid's commercial prospects. Kasimov says that while management believes the news changes nothing, he worries "that the already tenuous sentiment around the name could have a difficult time withstanding this latest development." It remains to be seen what extent, if any, the creased scrutiny on the safety profile of Nuplazid negatively impacts the product's commercial outlook, Kasimov tells investors in a research note. He believes Acadia'a Q1 earnings report now has even greater significance. The analyst keeps an Overweight rating on Acadia with a $50 price target.
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