ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns Buy Rating from JPMorgan Chase & Co.

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “buy” rating reissued by JPMorgan Chase & Co. in a report released on Sunday, AnalystRatings.com reports.

ACAD has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, December 5th. Royal Bank of Canada reissued a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 26th. Oppenheimer started coverage on ACADIA Pharmaceuticals in a research report on Thursday, October 24th. They set a “market perform” rating and a $44.00 price objective on the stock. BidaskClub lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 13th. Finally, Guggenheim assumed coverage on ACADIA Pharmaceuticals in a research note on Monday, December 16th. They issued a “buy” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.25.

ACADIA Pharmaceuticals stock opened at $43.43 on Friday. The company has a market cap of $6.86 billion, a price-to-earnings ratio of -24.68 and a beta of 2.78. The firm’s fifty day moving average is $44.80 and its 200 day moving average is $37.33. The company has a quick ratio of 10.89, a current ratio of 10.96 and a debt-to-equity ratio of 0.01. ACADIA Pharmaceuticals has a 52-week low of $20.12 and a 52-week high of $53.70.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. ACADIA Pharmaceuticals had a negative net margin of 82.48% and a negative return on equity of 50.15%. The business had revenue of $94.59 million during the quarter, compared to analyst estimates of $88.49 million. During the same quarter last year, the business earned ($0.50) earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 62.2% compared to the same quarter last year. On average, equities research analysts anticipate that ACADIA Pharmaceuticals will post -1.62 earnings per share for the current fiscal year.

In other ACADIA Pharmaceuticals news, President Srdjan R. Stankovic sold 2,160 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.41, for a total value of $100,245.60. Following the transaction, the president now owns 8,187 shares of the company’s stock, valued at approximately $379,958.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 150,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $52.34, for a total value of $7,851,000.00. Following the completion of the sale, the chief executive officer now owns 152,954 shares in the company, valued at approximately $8,005,612.36. The disclosure for this sale can be found here. In the last three months, insiders sold 318,160 shares of company stock valued at $15,583,232. 29.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its stake in ACADIA Pharmaceuticals by 950.3% in the 2nd quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock worth $107,334,000 after buying an additional 3,633,171 shares during the period. Nuveen Asset Management LLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter worth about $42,444,000. Great Point Partners LLC grew its stake in ACADIA Pharmaceuticals by 46.0% in the 3rd quarter. Great Point Partners LLC now owns 2,190,742 shares of the biopharmaceutical company’s stock worth $78,845,000 after acquiring an additional 690,742 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of ACADIA Pharmaceuticals by 170.6% during the third quarter. Pictet Asset Management Ltd. now owns 970,250 shares of the biopharmaceutical company’s stock worth $34,919,000 after acquiring an additional 611,750 shares during the period. Finally, Millennium Management LLC increased its position in shares of ACADIA Pharmaceuticals by 98.8% during the third quarter. Millennium Management LLC now owns 1,020,864 shares of the biopharmaceutical company’s stock worth $36,740,000 after acquiring an additional 507,354 shares during the period. 94.49% 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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