ACADIA Pharmaceuticals Inc (ACAD) Message Board

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Biotech / Medical : ACADIA Pharmaceuticals Inc (ACAD)

ACAD 25.04

+0.9%

Nov 28 9:30 AM EST

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From: mopgcw	12/17/2006 5:27:02 AM
	of 588

Acadia Pharmaceuticals - ACAD-NNM Buy - Price 9.02 on Dec. 13 by Needham, Fulop and Carr Initiating coverage of Acadia, a [central-nervous-system]-focused biotech company with two internally discovered and unpartnered Phase 2 compounds, ACP-103 and ACP-104, addressing multibillion dollar markets...While ACP-103 (Parkinson's disease psychosis, schizophrenia, and insomnia) is the lead product candidate, we view ACP-104 as a potential blockbuster schizophrenia drug. We believe ACAD represents an attractive investment opportunity at the current stock price and a technology value of about $175 million, which does not reflect ACP's unpartnered and emerging late-stage pipeline; anticipated positive upcoming news flow in 2007; productive [G-protein-coupled receptor] technology platform; or management's Big Pharma experience. We base our Buy rating and 17 price target on a 27-times multiple of 2011 estimated earnings per share, discounted by 30% annually.

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