ACADIA Pharmaceuticals (ACAD) Receives Buy Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report sent to investors on Saturday morning.

Several other brokerages also recently weighed in on ACAD. Piper Jaffray Companies upgraded shares of ACADIA Pharmaceuticals from a neutral rating to an overweight rating and set a $25.00 target price for the company in a research note on Thursday, September 20th. BidaskClub raised shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, September 25th. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, August 22nd. Cantor Fitzgerald set a $25.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, October 2nd. Finally, Stifel Nicolaus assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, August 7th. They set a hold rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ACADIA Pharmaceuticals has an average rating of Buy and an average price target of $33.78.

Shares of ACAD opened at $21.88 on Friday. ACADIA Pharmaceuticals has a fifty-two week low of $12.77 and a fifty-two week high of $33.52. The stock has a market cap of $2.84 billion, a PE ratio of -9.27 and a beta of 3.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.08. ACADIA Pharmaceuticals had a negative net margin of 135.99% and a negative return on equity of 78.56%. The business had revenue of $58.31 million during the quarter, compared to the consensus estimate of $56.31 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The business’s quarterly revenue was up 63.9% compared to the same quarter last year. Research analysts expect that ACADIA Pharmaceuticals will post -2.08 EPS for the current fiscal year.

In other news, Director Bros. Advisors Lp Baker purchased 1,210,776 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average cost of $18.70 per share, with a total value of $22,641,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in ACADIA Pharmaceuticals by 46.4% in the second quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock valued at $148,654,000 after buying an additional 3,085,874 shares in the last quarter. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 125.5% in the third quarter. First Trust Advisors LP now owns 5,870,693 shares of the biopharmaceutical company’s stock valued at $121,876,000 after buying an additional 3,267,247 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in ACADIA Pharmaceuticals by 2.6% in the second quarter. OppenheimerFunds Inc. now owns 4,458,376 shares of the biopharmaceutical company’s stock valued at $68,080,000 after buying an additional 112,430 shares in the last quarter. Orbimed Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 28.2% in the second quarter. Orbimed Advisors LLC now owns 4,282,400 shares of the biopharmaceutical company’s stock valued at $65,392,000 after buying an additional 941,700 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in ACADIA Pharmaceuticals by 157.5% in the second quarter. Northern Trust Corp now owns 1,261,535 shares of the biopharmaceutical company’s stock valued at $19,264,000 after buying an additional 771,631 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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