JMP ups Acadia's target price to $15

Acadia Pharmaceuticals Inc. was reiterated by JMP Securities analyst Charles C. Duncan at a market outperform rating and the price target was raised to $15 from $10. Third-quarter results showed productivity with four phase 2 clinical trials advancing with well-managed spending, JMP said. The CATIE trial for antipsychotic treatment emphasizes the unmet need for better schizoprehnia therapies, and its candidate ACP-104 has shown positive clinical response with the benefit of improve cognition, JMP said. Shares of the San Diego biopharmaceutical company were down $0.20, or 1.91%, at $10.29 on volume of 66,962 shares versus the three-month running average of 71,689.4 shares.

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