Acadia Pharmaceuticals Inc. (ACAD) Stock Rating Reaffirmed by Roth Capital
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “neutral” rating reiterated by equities research analysts at Roth Capital in a research report issued on Wednesday.
A number of other equities analysts have also recently commented on the company. Cowen and Company reissued an “outperform” rating and set a $42.00 price target on shares of Acadia Pharmaceuticals in a report on Monday. Piper Jaffray Cos. reissued an “overweight” rating and set a $44.00 price target on shares of Acadia Pharmaceuticals in a report on Wednesday, October 12th. Leerink Swann began coverage on Acadia Pharmaceuticals in a report on Tuesday, October 4th. They set a “market perform” rating and a $34.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Acadia Pharmaceuticals in a report on Sunday, September 25th. Finally, Zacks Investment Research raised Acadia Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.70.
Acadia Pharmaceuticals (NASDAQ:ACAD) opened at 24.33 on Wednesday. Acadia Pharmaceuticals has a 1-year low of $16.64 and a 1-year high of $43.30. The firm’s market cap is $2.77 billion. The firm has a 50-day moving average price of $31.04 and a 200 day moving average price of $33.12.
Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates 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 had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. During the same period last year, the firm posted ($0.39) EPS. Acadia Pharmaceuticals’s quarterly revenue was up 96900.0% on a year-over-year basis. Equities analysts predict that Acadia Pharmaceuticals will post ($2.14) earnings per share for the current year.
In other Acadia Pharmaceuticals news, Director Edmund Harrigan acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were bought at an average cost 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 $32,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $33.00 per share, for a total transaction of $42,999,990.00. The disclosure for this purchase can be found here. 21.65% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ACAD. FMR LLC increased its position in shares of Acadia Pharmaceuticals by 0.5% in the second quarter. FMR LLC now owns 16,969,451 shares of the biopharmaceutical company’s stock worth $550,828,000 after buying an additional 78,983 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Acadia Pharmaceuticals by 0.8% in the second quarter. Vanguard Group Inc. now owns 6,368,960 shares of the biopharmaceutical company’s stock worth $206,737,000 after buying an additional 49,421 shares in the last quarter. Capital World Investors increased its position in shares of Acadia Pharmaceuticals by 12.9% in the second quarter. Capital World Investors now owns 3,764,000 shares of the biopharmaceutical company’s stock worth $122,179,000 after buying an additional 430,000 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Acadia Pharmaceuticals by 10.9% in the first quarter. BlackRock Fund Advisors now owns 3,549,078 shares of the biopharmaceutical company’s stock worth $99,232,000 after buying an additional 349,519 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Acadia Pharmaceuticals by 30.1% in the second quarter. Franklin Resources Inc. now owns 3,366,686 shares of the biopharmaceutical company’s stock worth $109,283,000 after buying an additional 778,269 shares in the last quarter. 92.07% of the stock is currently owned by institutional investors.
About Acadia Pharmaceuticals
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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