ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $30.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.54% from the stock’s current price.
According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “
A number of other analysts have also recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 12th. J P Morgan Chase & Co set a $50.00 price target on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 5th. Leerink Swann reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, October 9th. JMP Securities boosted their price target on ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $61.00 price target (up from $54.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.44.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded up $0.80 on Wednesday, hitting $27.64. The stock had a trading volume of 1,582,600 shares, compared to its average volume of 1,680,759. ACADIA Pharmaceuticals has a 12-month low of $24.31 and a 12-month high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The firm had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. During the same period in the previous year, the firm posted ($0.61) EPS. The business’s revenue for the quarter was up 571.3% compared to the same quarter last year. research analysts predict that ACADIA Pharmaceuticals will post -2.42 earnings per share for the current year.
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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 37,500 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $40.91, for a total transaction of $1,534,125.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.25% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ACAD. Teachers Advisors LLC raised its stake in ACADIA Pharmaceuticals by 2.2% during the 1st quarter. Teachers Advisors LLC now owns 125,022 shares of the biopharmaceutical company’s stock valued at $4,298,000 after buying an additional 2,722 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in ACADIA Pharmaceuticals by 138.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares during the last quarter. Legal & General Group Plc raised its stake in ACADIA Pharmaceuticals by 173.5% during the 1st quarter. Legal & General Group Plc now owns 32,968 shares of the biopharmaceutical company’s stock valued at $1,133,000 after buying an additional 20,916 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ACADIA Pharmaceuticals by 2,500.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 198,620 shares of the biopharmaceutical company’s stock valued at $6,828,000 after buying an additional 190,981 shares during the last quarter. Finally, BlackRock Inc. raised its stake in ACADIA Pharmaceuticals by 5,422.8% during the 1st quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after buying an additional 5,334,832 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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