Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Jaffray Cos. in a note issued to investors on Wednesday. They presently have a $44.00 target price on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price objective would suggest a potential upside of 63.69% from the company’s current price.

A number of other equities analysts have also recently weighed in on ACAD. Needham & Company LLC reissued a “buy” rating and set a $49.00 price objective on shares of Acadia Pharmaceuticals in a report on Tuesday, July 26th. JMP Securities reissued a “buy” rating and set a $45.00 price objective on shares of Acadia Pharmaceuticals in a report on Wednesday, August 10th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Acadia Pharmaceuticals in a report on Sunday, September 25th. Cowen and Company reissued an “outperform” rating and set a $42.00 price objective on shares of Acadia Pharmaceuticals in a report on Tuesday, July 26th. Finally, Vetr raised Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Acadia Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $45.70.

Analyst Recommendations for Acadia Pharmaceuticals (NASDAQ:ACAD)

Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 4.06% on Wednesday, reaching $25.79. The company had a trading volume of 1,050,026 shares. The stock’s market capitalization is $2.94 billion. The stock’s 50-day moving average price is $32.22 and its 200-day moving average price is $33.17. Acadia Pharmaceuticals has a 12-month low of $16.64 and a 12-month high of $43.30.

Acadia Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.49) by $0.14. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The business earned $0.97 million during the quarter, compared to analysts’ expectations of $0.71 million. During the same period in the previous year, the business earned ($0.39) EPS. The business’s revenue was up 96900.0% on a year-over-year basis. On average, equities research analysts anticipate that Acadia Pharmaceuticals will post ($2.14) EPS for the current fiscal year.

In related news, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the stock in a transaction on Wednesday, August 10th. The stock was acquired at an average price of $33.00 per share, for a total transaction of $42,999,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edmund Harrigan acquired 1,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $32.97 per share, with a total value of $32,970.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $32,970. The disclosure for this purchase can be found here. 21.65% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ACAD. Prudential Financial Inc. boosted its position in shares of Acadia Pharmaceuticals by 5.6% in the second quarter. Prudential Financial Inc. now owns 8,058 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 428 shares during the last quarter. Hollencrest Securities LLC boosted its position in shares of Acadia Pharmaceuticals by 4.4% in the second quarter. Hollencrest Securities LLC now owns 12,602 shares of the biopharmaceutical company’s stock worth $409,000 after buying an additional 532 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Acadia Pharmaceuticals by 4.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 22,365 shares of the biopharmaceutical company’s stock worth $726,000 after buying an additional 914 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Acadia Pharmaceuticals by 8.0% in the second quarter. Teacher Retirement System of Texas now owns 12,633 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 931 shares during the last quarter. Finally, IFP Advisors Inc boosted 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 worth $209,000 after buying an additional 979 shares during the last quarter. Institutional investors and hedge funds 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).

5 Day Chart for NASDAQ:ACAD

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