ACADIA Pharmaceuticals Inc. (ACAD) Raised to Hold at BidaskClub
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Monday, July 24th.
Several other brokerages have also weighed in on ACAD. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $47.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 10th. ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $43.23.
Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up 0.16% during trading on Monday, hitting $31.08. 909,596 shares of the stock were exchanged. ACADIA Pharmaceuticals has a one year low of $20.68 and a one year high of $40.83. The stock’s market cap is $3.80 billion. The stock’s 50 day moving average price is $29.77 and its 200 day moving average price is $32.03.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.17. The business had revenue of $30.50 million for the quarter, compared to analyst estimates of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The business’s revenue was up 30400.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.63) EPS. Equities research analysts predict that ACADIA Pharmaceuticals will post ($2.55) EPS for the current year.
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In related news, EVP Glenn Baity sold 1,903 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $30.00, for a total value of $57,090.00. Following the completion of the sale, the executive vice president now directly owns 83,059 shares of the company’s stock, valued at approximately $2,491,770. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 54,322 shares of company stock valued at $1,699,551. Company insiders own 22.25% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in ACADIA Pharmaceuticals by 379.7% in the first quarter. Russell Investments Group Ltd. now owns 24,150 shares of the biopharmaceutical company’s stock worth $831,000 after buying an additional 19,116 shares during the period. Nationwide Fund Advisors purchased a new stake in ACADIA Pharmaceuticals during the first quarter worth $424,000. Candriam Luxembourg S.C.A. purchased a new stake in ACADIA Pharmaceuticals during the first quarter worth $2,097,000. Quantitative Systematic Strategies LLC purchased a new stake in ACADIA Pharmaceuticals during the first quarter worth $209,000. Finally, Nisa Investment Advisors LLC increased its stake 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 period. 97.82% of the stock is owned by institutional investors.
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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