ACADIA Pharmaceuticals (NASDAQ:ACAD) has been given a $30.00 target price by equities research analysts at Cantor Fitzgerald in a report released on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 37.11% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. JMP Securities lowered their price target on shares of ACADIA Pharmaceuticals from $50.00 to $27.00 and set a “market outperform” rating on the stock in a report on Thursday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, August 9th. Bank of America lifted their price target on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Finally, Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.78.
Shares of NASDAQ:ACAD opened at $21.88 on Wednesday. ACADIA Pharmaceuticals has a 1-year low of $12.77 and a 1-year high of $33.52. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -9.27 and a beta of 3.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $56.31 million. During the same quarter in the previous year, the firm earned ($0.53) earnings per share. The company’s revenue for the quarter was up 63.9% on a year-over-year basis. As a group, equities research analysts forecast that ACADIA Pharmaceuticals will post -2.08 EPS for the current fiscal year.
In related news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of the stock in a transaction dated Thursday, September 20th. The shares were purchased at an average price of $18.70 per share, with a total value of $22,641,511.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 23.28% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ACAD. Verition Fund Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter worth $163,000. Centaurus Financial Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter worth $169,000. NEXT Financial Group Inc purchased a new position in shares of ACADIA Pharmaceuticals in the third quarter worth $176,000. Russell Investments Group Ltd. raised its stake in ACADIA Pharmaceuticals by 96.4% during the third quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 4,202 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the second quarter valued at $179,000. 96.01% of the stock is currently owned by hedge funds and other institutional investors.
About ACADIA Pharmaceuticals
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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