ACADIA Pharmaceuticals Inc. (ACAD) Receives $41.09 Consensus Target Price from Analysts
Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus recommendation of “Buy” from the seventeen research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $41.09.
A number of equities analysts have recently weighed in on ACAD shares. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Vetr downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating and set a $41.20 price target on the stock. in a research report on Monday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $49.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 5th. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 3rd. Finally, ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.
ACADIA Pharmaceuticals (ACAD) traded up 3.12% during trading on Monday, reaching $27.10. The company’s stock had a trading volume of 2,018,217 shares. The firm’s market capitalization is $3.31 billion. The stock’s 50-day moving average is $28.46 and its 200 day moving average is $31.94. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.01. The firm had revenue of $15.30 million for the quarter, compared to analyst estimates of $15.17 million. ACADIA Pharmaceuticals had a negative return on equity of 63.07% and a negative net margin of 948.93%. During the same quarter in the prior year, the company earned ($0.45) earnings per share. On average, analysts predict that ACADIA Pharmaceuticals will post ($2.83) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ACAD. Baker BROS. Advisors LP bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at about $821,327,000. Candriam Luxembourg S.C.A. bought a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $2,097,000. Sphera Funds Management LTD. bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at about $3,976,000. State Street Corp raised its position in shares of ACADIA Pharmaceuticals by 7.9% in the fourth quarter. State Street Corp now owns 3,354,026 shares of the biopharmaceutical company’s stock valued at $96,728,000 after buying an additional 246,198 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in ACADIA Pharmaceuticals by 22.2% in the first quarter. Pacer Advisors Inc. now owns 13,674 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 2,480 shares during the period. 97.43% of the stock is owned by institutional investors and hedge funds.
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 (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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