ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, November 15th. The firm presently has a $30.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 3.73% from the company’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 brokerages have also issued reports on ACAD. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $50.00 price target (up from $48.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $49.00 price target on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, October 6th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. Finally, Cowen reissued a “buy” rating and set a $46.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $47.44.
ACADIA Pharmaceuticals (NASDAQ:ACAD) traded down $1.24 on Wednesday, reaching $28.92. The company had a trading volume of 1,470,151 shares, compared to its average volume of 1,660,873. ACADIA Pharmaceuticals has a 12-month low of $24.31 and a 12-month high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.10. The firm had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The firm’s revenue was up 571.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.61) EPS. equities analysts anticipate that ACADIA Pharmaceuticals will post -2.42 earnings per share for the current year.
In other news, EVP Glenn Baity sold 37,500 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $40.91, for a total value of $1,534,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.25% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in ACAD. BlackRock Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 5,422.8% during the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock worth $186,791,000 after acquiring an additional 5,334,832 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $102,152,000. Goldman Sachs Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 69.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock worth $53,222,000 after acquiring an additional 785,352 shares in the last quarter. First Trust Advisors LP raised its holdings in ACADIA Pharmaceuticals by 60.8% during the second quarter. First Trust Advisors LP now owns 1,402,029 shares of the biopharmaceutical company’s stock valued at $39,103,000 after buying an additional 530,103 shares in the last quarter. Finally, State Street Corp raised its holdings in ACADIA Pharmaceuticals by 15.8% during the second quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after buying an additional 510,670 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
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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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