Acadia stays at market outperform by JMP

Acadia Pharmaceuticals Inc. was reiterated at market outperform with an $18 price target by JMP Securities analyst Charles C. Duncan. Based on first-quarter results below expectations, JMP lowered its 2006 revenue estimates to $12.7 million, from $25.7 million, modestly increasing the analyst's projected net loss modestly to $1.37 per share, from $1.17 per share. Shares of the San Diego, Calif., biopharmaceutical company were down $0.46 or 3.97%, at $11.13 on volume of 577,263 shares versus the three-month running average of 460,908 shares. (Nasdaq: ACAD)

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