Acadia Pharmaceuticals’ (ACAD) Outperform Rating Reaffirmed at Cowen and Company
Cowen and Company reaffirmed their outperform rating on shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) in a report published on Monday morning. The brokerage currently has a $42.00 target price on the biopharmaceutical company’s stock.
Other research analysts also recently issued reports about the company. Needham & Company LLC restated a buy rating and issued a $49.00 price target on shares of Acadia Pharmaceuticals in a research note on Friday, August 5th. Zacks Investment Research downgraded Acadia Pharmaceuticals from a hold rating to a sell rating in a research note on Monday, July 25th. Piper Jaffray Cos. restated an overweight rating and issued a $44.00 price target on shares of Acadia Pharmaceuticals in a research note on Tuesday, July 26th. JMP Securities reaffirmed a buy rating and set a $45.00 price objective on shares of Acadia Pharmaceuticals in a report on Wednesday, August 10th. Finally, Aegis cut Acadia Pharmaceuticals from a buy rating to a hold rating and decreased their price objective for the stock from $54.00 to $41.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Four equities research 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’s stock. Acadia Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $45.70.
Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) opened at 24.325 on Monday. The stock’s market capitalization is $2.77 billion. Acadia Pharmaceuticals has a one year low of $16.64 and a one year high of $43.30. The stock has a 50 day moving average of $31.28 and a 200-day moving average of $33.15.
Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.14. Acadia Pharmaceuticals had a negative return on equity of 64.25% and a negative net margin of 131,066.23%. The business earned $0.97 million during the quarter, compared to the consensus estimate of $0.71 million. During the same quarter in the previous year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was up 96900.0% compared to the same quarter last year. Equities analysts forecast that Acadia Pharmaceuticals will post ($2.14) earnings per share for the current year.
In related news, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average price of $33.00 per share, with a total value of $42,999,990.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edmund Harrigan acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average cost of $32.97 per share, for a total transaction of $32,970.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $32,970. The disclosure for this purchase can be found here. Insiders own 21.65% of the company’s stock.
A number of large investors have recently modified their holdings of ACAD. Tower Research Capital LLC TRC boosted its stake in Acadia Pharmaceuticals by 1,529.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,205 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 3,947 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in Acadia Pharmaceuticals by 120.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,400 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 2,400 shares during the period. BlackRock Inc. boosted its stake in Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 3,153 shares during the period. Pacad Investment Ltd. acquired a new stake in Acadia Pharmaceuticals during the second quarter worth approximately $198,000. Finally, IFP Advisors Inc boosted its stake in 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 period. 92.07% of the stock is currently owned by institutional investors.
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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