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Fly News Breaks for September 13, 2019
ACAD
Sep 13, 2019 | 08:29 EDT
As previously reported, SVB Leerink analyst Marc Goodman upgraded Acadia to Outperform from Market Perform and raised his price target on the shares to $50 from $21 based on the recently announced results from the Phase 3 HARMONY study in Dementia Related Psychosis, or DRP. Following the announcement of the trial results, he conducted calls with Key Opinion Leaders specialized in treating both Parkinson's and Alzheimer's/Dementia patients, which left him "significantly more positive" on the DRP opportunity, Goodman tells investors. The positive physician feedback drove him to increase his peak sales estimate for the DRP indication to about $2B from the $500M-$750M range, Goodman noted.
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