ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received a consensus rating of “Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $50.43.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 12th. Leerink Swann restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, October 9th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $45.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co set a $50.00 price objective on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 5th.
In related news, EVP Glenn Baity sold 14,322 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total value of $499,551.36. Following the completion of the sale, the executive vice president now owns 78,578 shares of the company’s stock, valued at $2,740,800.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 78,329 shares of company stock valued at $2,957,975 in the last three months. 22.25% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Utah Retirement Systems grew its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the second quarter. Utah Retirement Systems now owns 17,600 shares of the biopharmaceutical company’s stock valued at $491,000 after purchasing an additional 200 shares during the period. Stifel Financial Corp grew its holdings in shares of ACADIA Pharmaceuticals by 3.1% in the first quarter. Stifel Financial Corp now owns 8,708 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 260 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 10.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 468 shares during the period. Principal Financial Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 3.6% in the second quarter. Principal Financial Group Inc. now owns 16,810 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 579 shares during the period. Finally, Tocqueville Asset Management L.P. grew its holdings in shares of ACADIA Pharmaceuticals by 0.6% in the second quarter. Tocqueville Asset Management L.P. now owns 100,560 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 610 shares during the period. 97.10% of the stock is owned by hedge funds and other institutional investors.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded up 1.37% during mid-day trading on Thursday, reaching $36.32. 1,331,716 shares of the company’s stock were exchanged. The stock’s market capitalization is $4.45 billion. The company’s 50 day moving average is $36.99 and its 200 day moving average is $31.78. ACADIA Pharmaceuticals has a 1-year low of $20.68 and a 1-year high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.17. The company had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 221.30% and a negative return on equity of 62.00%. The firm’s revenue for the quarter was up 30400.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.63) earnings per share. Equities research analysts anticipate that ACADIA Pharmaceuticals will post ($2.55) EPS for the current fiscal year.
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ACADIA Pharmaceuticals Company Profile
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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