ACADIA Pharmaceuticals Inc. (ACAD) Price Target Increased to $50.00 by Analysts at JMP Securities
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had its price target increased by JMP Securities from $47.00 to $50.00 in a report released on Thursday. They currently have an outperform rating on the biopharmaceutical company’s stock.
Several other brokerages also recently issued reports on ACAD. Zacks Investment Research raised ACADIA Pharmaceuticals from a hold rating to a buy rating and set a $31.00 price target on the stock in a research report on Tuesday, July 11th. Ladenburg Thalmann Financial Services reiterated a buy rating and issued a $50.00 target price (up previously from $48.00) on shares of ACADIA Pharmaceuticals in a research note on Monday. Needham & Company LLC reiterated a buy rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. HC Wainwright reiterated a buy rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. Finally, BidaskClub upgraded shares of ACADIA Pharmaceuticals from a strong sell rating to a sell rating in a research note on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $46.21.
ACADIA Pharmaceuticals (ACAD) traded up 0.63% on Thursday, hitting $38.54. The company had a trading volume of 2,006,767 shares. The stock’s market cap is $4.72 billion. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $41.20. The firm’s 50 day moving average price is $35.78 and its 200 day moving average price is $31.67.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued 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 company had revenue of $30.50 million for the quarter, compared to the consensus estimate of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The firm’s revenue was up 30400.0% compared to the same quarter last year. During the same period last year, the business posted ($0.63) earnings per share. Equities analysts predict that ACADIA Pharmaceuticals will post ($2.53) earnings per share for the current fiscal year.
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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 14,322 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total transaction of $499,551.36. Following the completion of the sale, the executive vice president now owns 78,578 shares of the company’s stock, valued at approximately $2,740,800.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 116,426 shares of company stock valued at $4,100,885. 22.25% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACAD. Envestnet Asset Management Inc. grew its holdings in ACADIA Pharmaceuticals by 23.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 617 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth $125,000. Oppenheimer Asset Management Inc. grew its holdings in ACADIA Pharmaceuticals by 10.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 468 shares during the period. PNC Financial Services Group Inc. grew its holdings in ACADIA Pharmaceuticals by 138.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 2,548 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $202,000. 97.10% of the stock is owned by hedge funds and other 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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