ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Upgraded by Zacks Investment Research

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, January 9th. The firm currently has a $30.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential downside of 0.86% 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. “

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 5th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $50.00 price target (up from $48.00) on shares of ACADIA Pharmaceuticals in a research report on Monday, October 2nd. Needham & Company LLC restated a “buy” rating and issued a $49.00 price objective on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. JPMorgan Chase & Co. set a $50.00 price objective on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $61.00 price target (up previously from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $48.86.

Shares of ACADIA Pharmaceuticals (ACAD) opened at $30.26 on Tuesday. The company has a market cap of $3,714.99 and a price-to-earnings ratio of -12.35. ACADIA Pharmaceuticals has a 52-week low of $25.06 and a 52-week high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The firm had revenue of $35.58 million for the quarter, compared to the consensus estimate of $32.03 million. During the same period last year, the firm posted ($0.61) earnings per share. The company’s revenue for the quarter was up 571.3% on a year-over-year basis. research analysts forecast that ACADIA Pharmaceuticals will post -2.41 earnings per share for the current fiscal year.

In other news, EVP Glenn Baity sold 36,558 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.39, for a total transaction of $1,184,113.62. Following the transaction, the executive vice president now directly owns 83,734 shares of the company’s stock, valued at approximately $2,712,144.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura Brege sold 25,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $450,900. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,879 shares of company stock worth $4,175,649. Corporate insiders own 22.25% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in ACADIA Pharmaceuticals by 2.9% in the 2nd quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock valued at $155,925,000 after purchasing an additional 157,497 shares in the last quarter. Legato Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 321.9% in the 3rd quarter. Legato Capital Management LLC now owns 33,748 shares of the biopharmaceutical company’s stock valued at $1,271,000 after purchasing an additional 25,748 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in ACADIA Pharmaceuticals by 118.3% in the 2nd quarter. Nationwide Fund Advisors now owns 26,940 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 14,600 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in ACADIA Pharmaceuticals by 5.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,883,166 shares of the biopharmaceutical company’s stock valued at $52,521,000 after purchasing an additional 96,742 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 8.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 422,605 shares of the biopharmaceutical company’s stock valued at $15,920,000 after purchasing an additional 33,478 shares in the last quarter. Institutional investors own 94.09% of the company’s stock.

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About ACADIA Pharmaceuticals

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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