Acadia kept at market outperform by JMP

Acadia Pharmaceuticals Inc. was reiterated at a market outperform rating and given an $18 price target by JMP Securities analyst Charles C. Duncan. The company reported solid progress in 2005, with clinical advancements expected to continue in 2006. Acadia's announced fourth-quarter financial results were in line with expectations on top, missing estimates on bottom due to higher-than-expected operating costs. JMP adjusted its net loss for 2006 to $1.17 per share from $0.88 per share. Shares of the San Diego biopharmaceutical company were up 18 cents, or 1.23%, at $14.81 on volume of 616,337 shares versus the three-month running average of 431,792 shares. (Nasdaq: ACAD)

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