ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “neutral” rating restated by equities research analysts at Goldman Sachs Group, Inc. (The) in a report released on Friday, October 6th, MarketBeat reports. They currently have a $45.00 price target on the biopharmaceutical company’s stock. Goldman Sachs Group, Inc. (The)’s price target would indicate a potential upside of 22.52% from the stock’s previous close.
A number of other research firms have also weighed in on ACAD. BidaskClub raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, July 11th. HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 9th. Cowen and Company reissued an “outperform” rating and issued a $46.00 target price (up from $42.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 10th. Finally, ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $46.21.
ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 36.73 on Friday. The stock’s 50 day moving average price is $36.94 and its 200-day moving average price is $31.74. The stock’s market cap is $4.50 billion. ACADIA Pharmaceuticals has a 12 month low of $20.68 and a 12 month high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.17. The firm had revenue of $30.50 million for the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The company’s quarterly revenue was up 30400.0% on a year-over-year basis. During the same period last year, the firm earned ($0.63) EPS. Analysts anticipate that ACADIA Pharmaceuticals will post ($2.55) EPS for the current fiscal year.
In other news, EVP Glenn Baity sold 37,500 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $40.91, for a total transaction of $1,534,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 78,329 shares of company stock valued at $2,957,975. Corporate insiders own 22.25% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of ACADIA Pharmaceuticals by 0.5% during the 2nd quarter. FMR LLC now owns 18,306,966 shares of the biopharmaceutical company’s stock worth $510,582,000 after purchasing an additional 95,823 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ACADIA Pharmaceuticals by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock worth $212,093,000 after purchasing an additional 134,820 shares during the last quarter. BlackRock Inc. lifted its position in ACADIA Pharmaceuticals by 2.9% in the second quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock valued at $155,925,000 after acquiring an additional 157,497 shares during the last quarter. State Street Corp lifted its position in ACADIA Pharmaceuticals by 15.8% in the second quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after acquiring an additional 510,670 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in ACADIA Pharmaceuticals in the second quarter valued at $102,152,000. 97.10% 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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