ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price lifted by Bank of America from $22.00 to $25.00 in a research note released on Wednesday. They currently have a buy rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. set a $50.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a buy rating in a research report on Sunday, July 1st. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, June 18th. Cantor Fitzgerald reiterated a buy rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, August 29th. HC Wainwright reiterated a buy rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded ACADIA Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $33.22.
Shares of ACADIA Pharmaceuticals stock opened at $21.72 on Wednesday. ACADIA Pharmaceuticals has a 52 week low of $12.77 and a 52 week high of $38.00. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -9.20 and a beta of 3.43.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.06). ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The business had revenue of $57.06 million during the quarter, compared to the consensus estimate of $58.63 million. During the same quarter last year, the firm posted ($0.55) earnings per share. ACADIA Pharmaceuticals’s revenue was up 87.2% compared to the same quarter last year. On average, equities analysts anticipate that ACADIA Pharmaceuticals will post -2.09 EPS for the current year.
In related news, Director Bros. Advisors Lp Baker acquired 1,210,776 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were purchased at an average price of $18.70 per share, for a total transaction of $22,641,511.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 23.28% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. Point72 Asia Hong Kong Ltd grew its stake in ACADIA Pharmaceuticals by 822.9% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 3,958 shares in the last quarter. Verition Fund Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $163,000. Centaurus Financial Inc. purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $169,000. NEXT Financial Group Inc purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at about $176,000. Finally, Flagship Harbor Advisors LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $179,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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