ACADIA Pharmaceuticals Inc. (ACAD) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “
Other equities research analysts have also recently issued research reports about the company. Leerink Swann restated a market perform rating and issued a $29.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, December 28th. Vetr cut ACADIA Pharmaceuticals from a strong-buy rating to a buy rating and set a $37.64 target price on the stock. in a research note on Tuesday, January 31st. JPMorgan Chase & Co. reiterated an overweight rating and set a $49.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, December 21st. Needham & Company LLC reiterated a buy rating and set a $49.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, December 23rd. Finally, HC Wainwright reiterated a buy rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, December 23rd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $41.66.
ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up 0.74% during mid-day trading on Friday, hitting $32.59. 787,572 shares of the stock were exchanged. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $42.49. The stock’s market capitalization is $3.96 billion. The firm has a 50-day moving average price of $34.97 and a 200-day moving average price of $31.04.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.65) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.65). The firm had revenue of $12 million for the quarter, compared to analysts’ expectations of $9.05 million. ACADIA Pharmaceuticals had a negative return on equity of 58.46% and a negative net margin of 4,427.79%. The business’s quarterly revenue was up 70488.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.45) EPS. Equities analysts predict that ACADIA Pharmaceuticals will post ($2.76) earnings per share for the current fiscal year.
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In related news, EVP Terrence O. Moore sold 157,540 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $39.77, for a total transaction of $6,265,365.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.65% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC acquired a new position in ACADIA Pharmaceuticals during the first quarter worth $209,000. Nisa Investment Advisors LLC raised its position in ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 510 shares during the last quarter. Fox Run Management L.L.C. raised its position in ACADIA Pharmaceuticals by 89.5% in the first quarter. Fox Run Management L.L.C. now owns 21,600 shares of the biopharmaceutical company’s stock worth $743,000 after buying an additional 10,200 shares during the last quarter. Winslow Evans & Crocker Inc. raised its position in ACADIA Pharmaceuticals by 45.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,100 shares of the biopharmaceutical company’s stock worth $175,000 after buying an additional 1,600 shares during the last quarter. Finally, CT Financial Advisors LLC raised its position in ACADIA Pharmaceuticals by 23.6% in the first quarter. CT Financial Advisors LLC now owns 16,629 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 3,178 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.
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 (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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