UPDATE: Ladenburg Thalmann Initiates Coverage on Acadia Pharmaceuticals

According to a research report published this morning, Ladenburg Thalmann has initiated Acadia Pharmaceuticals ACAD with a Buy rating. In the report, Ladenburg Thalmann said, "Our investment thesis rests on the prospects of pimavanserin's clinical development in Parkinson's disease psychosis (PDP). If the ongoing pimavanserin PDP pivotal trial is successful (September 2012), we believe investors should consider the potential of the drug not only in PDP, but also in other indications such as Alzheimer's disease psychosis (ADP), co-administration with antipsychotics in schizophrenia and others (on a risk-adjusted basis)." Acadia Pharmaceuticals closed Friday at $1.51.