ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target lifted by Cantor Fitzgerald from $25.00 to $27.00 in a research report sent to investors on Monday, MarketBeat reports. They currently have an overweight rating on the biopharmaceutical company’s stock.
“. We reiterate our Overweight rating and raise our 12-month price target to $27 from $25. In August 2018, ACADIA announced a licensing agreement with Neuren Pharmaceuticals (ASX: Rett syndrome. Although this program has yet to take center stage, we believe it is an underappreciated asset that could diversify the pipeline/business strategy over the next 12 months. We recently had an opportunity to meet with Neuren to discuss the history/future of Trofi’.”,” Cantor Fitzgerald’s analyst wrote.
A number of other research analysts also recently weighed in on ACAD. Bank of America lifted their price target on ACADIA Pharmaceuticals from $22.00 to $25.00 and gave the company a buy rating in a report on Wednesday, October 10th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a sell rating to a hold rating and set a $24.00 price target on the stock in a report on Monday, October 8th. Piper Jaffray Companies downgraded ACADIA Pharmaceuticals from an overweight rating to a neutral rating and set a $19.00 price target on the stock. in a report on Monday, August 6th. BidaskClub downgraded ACADIA Pharmaceuticals from a hold rating to a sell rating in a report on Thursday, August 9th. Finally, JMP Securities lowered their price target on ACADIA Pharmaceuticals from $50.00 to $27.00 and set a market outperform rating on the stock in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $33.44.
Shares of ACADIA Pharmaceuticals stock opened at $22.87 on Monday. The firm has a market cap of $2.60 billion, a PE ratio of -9.59 and a beta of 3.43. ACADIA Pharmaceuticals has a 12-month low of $12.77 and a 12-month high of $38.00.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). The company had revenue of $57.06 million for the quarter, compared to analyst estimates of $58.63 million. ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The firm’s revenue for the quarter was up 87.2% on a year-over-year basis. During the same period last year, the firm earned ($0.55) earnings per share. Research analysts anticipate that ACADIA Pharmaceuticals will post -2.09 EPS for the current fiscal year.
In other ACADIA Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 1,210,776 shares of the stock in a transaction dated Thursday, September 20th. The shares were acquired at an average price of $18.70 per share, for a total transaction of $22,641,511.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 23.28% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Hong Kong Ltd grew its stake in ACADIA Pharmaceuticals by 822.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 3,958 shares in the last quarter. Verition Fund Management LLC purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at about $163,000. Centaurus Financial Inc. purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at about $169,000. NEXT Financial Group Inc purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at about $176,000. Finally, Flagship Harbor Advisors LLC purchased a new position in ACADIA Pharmaceuticals in the second 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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