Stock analysts at Goldman Sachs Group Inc. began coverage on shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) in a note issued to investors on Friday. The firm set a “neutral” rating and a $28.00 price target on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s price objective would suggest a potential downside of 3.65% from the stock’s current price.

Several other brokerages have also 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. Leerink Swann reissued a “hold” rating and set a $29.00 price objective on shares of Acadia Pharmaceuticals in a report on Tuesday, November 8th. Cowen and Company reissued an “outperform” rating and set a $42.00 price objective on shares of Acadia Pharmaceuticals in a report on Thursday, November 10th. Bank of America Corp. raised Acadia Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Tuesday, November 8th. They noted that the move was a valuation call. Finally, 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. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $41.67.

Analyst Recommendations for Acadia Pharmaceuticals (NASDAQ:ACAD)

Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) opened at 29.06 on Friday. Acadia Pharmaceuticals has a one year low of $16.64 and a one year high of $42.49. The firm’s market cap is $3.52 billion. The firm has a 50 day moving average price of $26.48 and a 200-day moving average price of $32.00.

Acadia Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.05. The business earned $5.30 million during the quarter, compared to the consensus estimate of $2.90 million. Acadia Pharmaceuticals had a negative net margin of 4,427.79% and a negative return on equity of 58.46%. The business’s revenue was up 13489.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) earnings per share. Analysts forecast that Acadia Pharmaceuticals will post ($2.34) earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its stake in Acadia Pharmaceuticals by 5.0% in the third quarter. Prudential Financial Inc. now owns 8,458 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 400 shares during the last quarter. Hollencrest Securities LLC increased its stake in 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. SG Americas Securities LLC increased its stake in Acadia Pharmaceuticals by 4.6% in the third quarter. SG Americas Securities LLC now owns 13,077 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 575 shares during the last quarter. Aperio Group LLC increased its stake in Acadia Pharmaceuticals by 4.3% in the third quarter. Aperio Group LLC now owns 18,557 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 760 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in 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. Institutional investors and hedge funds own 92.76% of the company’s stock.

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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