ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had its price target lifted by Bank of America Corporation from $40.00 to $46.00 in a report issued on Thursday, October 5th. Bank of America Corporation currently has a positive rating on the biopharmaceutical company’s stock.
Several other equities analysts have also weighed in on ACAD. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Tuesday, July 11th. HC Wainwright restated a buy rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Cowen and Company restated an outperform rating and issued a $46.00 price objective (up from $42.00) on shares of ACADIA Pharmaceuticals in a report 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 analysts have rated the stock with a hold rating and ten have given a buy rating to the company. ACADIA Pharmaceuticals currently has an average rating of Buy and a consensus target price of $46.21.
ACADIA Pharmaceuticals (ACAD) traded up 2.85% during mid-day trading on Thursday, reaching $37.13. The company’s stock had a trading volume of 285,547 shares. The company has a 50-day moving average price of $36.78 and a 200-day moving average price of $31.67. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $41.20. The firm’s market cap is $4.54 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.17. The company had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. ACADIA Pharmaceuticals’s revenue was up 30400.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) EPS. On average, equities research analysts expect that ACADIA Pharmaceuticals will post ($2.55) earnings per share for the current year.
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In related news, EVP Glenn Baity sold 14,322 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total value of $499,551.36. Following the completion of the sale, the executive vice president now owns 78,578 shares in the company, valued at $2,740,800.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 116,426 shares of company stock valued at $4,100,885 in the last quarter. Company insiders own 22.25% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Utah Retirement Systems increased its holdings in ACADIA Pharmaceuticals by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 17,600 shares of the biopharmaceutical company’s stock valued at $491,000 after acquiring an additional 200 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of ACADIA Pharmaceuticals by 3.1% during the first quarter. Stifel Financial Corp now owns 8,708 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 260 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 10.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 468 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 3.6% during the second quarter. Principal Financial Group Inc. now owns 16,810 shares of the biopharmaceutical company’s stock worth $469,000 after buying an additional 579 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its holdings in shares of ACADIA Pharmaceuticals by 0.6% during the second quarter. Tocqueville Asset Management L.P. now owns 100,560 shares of the biopharmaceutical company’s stock worth $2,805,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 97.10% of the company’s stock.
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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