ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns Buy Rating from Cowen

Cowen reaffirmed their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report sent to investors on Monday, AnalystRatings.com reports. They currently have a $66.00 target price on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on ACAD. HC Wainwright restated a buy rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an overweight rating and set a $40.00 price target (up previously from $30.00) on shares of ACADIA Pharmaceuticals in a research report on Tuesday, August 27th. Zacks Investment Research raised ACADIA Pharmaceuticals from a hold rating to a buy rating and set a $26.00 price target for the company in a research report on Thursday, July 25th. Raymond James lifted their price target on ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the stock a strong-buy rating in a research report on Friday, May 31st. Finally, BidaskClub cut ACADIA Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $43.31.

Shares of ACAD stock opened at $41.15 on Monday. ACADIA Pharmaceuticals has a 1-year low of $13.19 and a 1-year high of $43.98. The stock’s fifty day moving average price is $28.11 and its 200 day moving average price is $26.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.79. The company has a market cap of $5.61 billion, a price-to-earnings ratio of -21.21 and a beta of 2.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The firm had revenue of $83.21 million for the quarter, compared to the consensus estimate of $72.50 million. During the same period in the previous year, the business earned ($0.51) EPS. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals will post -1.77 earnings per share for the current year.

In other news, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $1,134,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Alejandro Miller sold 4,645 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $41.18, for a total value of $191,281.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,112 shares of company stock valued at $2,449,443. 29.40% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $27,000. Twin Tree Management LP acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $29,000. Steward Partners Investment Advisory LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $42,000. Quantamental Technologies LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $57,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of ACADIA Pharmaceuticals by 5.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 60,327 shares of the biopharmaceutical company’s stock valued at $1,613,000 after buying an additional 2,930 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

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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