Acadia Pharmaceuticals (ACAD) stock was in focus Friday after multiple analysts lowered their price targets following topline results from the Phase 2 portion of the RADIANT program evaluating Remlifanserin in Alzheimer’s disease psychosis.

ACAD shares were down 5% at the time of writing on Friday.

Analysts Slash Their Price Targets On ACAD 

Needham analyst Ami Fadia lowered the firm’s price target on Acadia to $35 from $41 while maintaining a ‘Buy’ rating, according to The Fly. The firm is updating its model following the RADIANT results, which it said failed to meet the primary endpoint for either dose, but showed meaningful results in a post-hoc analysis of a subgroup representing about 80% of patients with higher baseline severity.