Acadia Pharmaceuticals Inc. (ACAD) Receives “Overweight” Rating from Piper Jaffray Cos.
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Jaffray Cos. in a note issued to investors on Monday. They currently have a $44.00 price objective on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target points to a potential upside of 52.72% from the stock’s previous close.
A number of other equities research analysts have also weighed in on ACAD. Vetr raised Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $45.04 price objective on the stock in a report on Monday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Acadia Pharmaceuticals in a report on Friday, August 5th. Aegis lowered Acadia Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $54.00 to $41.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Cowen and Company reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Acadia Pharmaceuticals in a report on Tuesday, July 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Acadia Pharmaceuticals in a report on Sunday, September 25th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $45.70.
Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 3.002% during midday trading on Monday, hitting $27.945. 355,039 shares of the company were exchanged. The stock’s market capitalization is $3.19 billion. Acadia Pharmaceuticals has a 52-week low of $16.64 and a 52-week high of $43.30. The company has a 50-day moving average price of $32.95 and a 200-day moving average price of $33.00.
Acadia Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.14. The company earned $0.97 million during the quarter, compared to analyst estimates of $0.71 million. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The business’s revenue was up 96900.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.39) EPS. On average, analysts forecast that Acadia Pharmaceuticals will post ($2.15) EPS for the current year.
In other Acadia Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 1,303,030 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was bought at an average cost of $33.00 per share, for a total transaction of $42,999,990.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edmund Harrigan purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was acquired at an average price of $32.97 per share, with a total value of $32,970.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $32,970. The disclosure for this purchase can be found here. 21.65% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ACAD. Macquarie Group Ltd. increased its position in shares of Acadia Pharmaceuticals by 7.8% in the second quarter. Macquarie Group Ltd. now owns 74,650 shares of the biopharmaceutical company’s stock valued at $2,423,000 after buying an additional 5,400 shares during the period. Cowen Group Inc. acquired a new position in shares of Acadia Pharmaceuticals during the second quarter valued at $568,000. IFP Advisors Inc increased its position in shares of Acadia Pharmaceuticals by 17.9% in the second quarter. IFP Advisors Inc now owns 6,447 shares of the biopharmaceutical company’s stock valued at $209,000 after buying an additional 979 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Acadia Pharmaceuticals during the second quarter valued at $2,142,000. Finally, HWG Holdings LP increased its position in shares of Acadia Pharmaceuticals by 24.4% in the second quarter. HWG Holdings LP now owns 289,380 shares of the biopharmaceutical company’s stock valued at $9,393,000 after buying an additional 56,834 shares during the period. Institutional investors own 92.10% of the company’s stock.
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 disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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