Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “hold” rating reaffirmed by analysts at Leerink Swann in a report released on Tuesday. They presently have a $29.00 price objective on the biopharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 0.45% from the company’s current price.

Several other analysts have also recently commented on the stock. Piper Jaffray Cos. restated an “overweight” rating and issued a $44.00 target price on shares of Acadia Pharmaceuticals in a research note on Wednesday, October 12th. Needham & Company LLC restated a “buy” rating and issued a $49.00 target price on shares of Acadia Pharmaceuticals in a research note on Monday, October 24th. Roth Capital reiterated a “neutral” rating and issued a $25.00 price objective on shares of Acadia Pharmaceuticals in a research note on Wednesday, October 19th. Vetr upgraded shares of Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research note on Monday, August 8th. Finally, Jefferies Group reiterated a “buy” rating on shares of Acadia Pharmaceuticals in a research note on Wednesday, August 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Acadia Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $42.91.

Analyst Recommendations for Acadia Pharmaceuticals (NASDAQ:ACAD)

Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) opened at 28.87 on Tuesday. Acadia Pharmaceuticals has a 52 week low of $16.64 and a 52 week high of $42.49. The company’s 50-day moving average is $26.98 and its 200 day moving average is $32.09. The stock’s market cap is $3.29 billion.

Acadia Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.05. Acadia Pharmaceuticals had a negative return on equity of 67.89% and a negative net margin of 4,427.79%. The firm earned $5.30 million during the quarter, compared to analyst estimates of $2.90 million. During the same quarter last year, the business posted ($0.39) EPS. The firm’s revenue was up 13489.7% on a year-over-year basis. Analysts forecast that Acadia Pharmaceuticals will post ($2.17) earnings per share for the current fiscal year.

In other Acadia Pharmaceuticals news, Director Edmund Harrigan purchased 1,000 shares of Acadia Pharmaceuticals stock in a transaction on Tuesday, August 16th. The shares were purchased at an average cost of $32.97 per share, with a total value of $32,970.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $32,970. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.65% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of 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. BlackRock Group LTD boosted its position in shares of Acadia Pharmaceuticals by 40.3% in the first quarter. BlackRock Group LTD now owns 84,381 shares of the biopharmaceutical company’s stock worth $2,360,000 after buying an additional 24,237 shares during the period. State Street Corp boosted its position in shares of Acadia Pharmaceuticals by 42.1% in the first quarter. State Street Corp now owns 3,364,426 shares of the biopharmaceutical company’s stock worth $94,072,000 after buying an additional 997,205 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Acadia Pharmaceuticals by 5.1% in the first quarter. UBS Asset Management Americas Inc. now owns 805,484 shares of the biopharmaceutical company’s stock worth $22,522,000 after buying an additional 39,224 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in shares of Acadia Pharmaceuticals by 30.2% in the first quarter. Pictet Asset Management Ltd. now owns 311,216 shares of the biopharmaceutical company’s stock worth $5,372,000 after buying an additional 72,189 shares during the period. 92.08% of the stock is currently owned by hedge funds and other 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).

5 Day Chart for NASDAQ:ACAD

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