ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had its price objective increased by JMP Securities from $47.00 to $50.00 in a report released on Thursday, October 5th. JMP Securities currently has an outperform rating on the biopharmaceutical company’s stock.
Several other equities research analysts have also recently issued reports on ACAD. HC Wainwright restated a buy rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Ladenburg Thalmann Financial Services restated a buy rating and issued a $50.00 target price (up previously from $48.00) on shares of ACADIA Pharmaceuticals in a report on Monday, October 2nd. Needham & Company LLC reiterated a buy rating and set a $49.00 price target on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research report on Friday, August 11th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $46.21.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 36.99 on Thursday. ACADIA Pharmaceuticals has a one year low of $20.68 and a one year high of $41.20. The firm’s market cap is $4.53 billion. The stock’s 50 day moving average price is $36.78 and its 200 day moving average price is $31.67.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The company had revenue of $30.50 million during the quarter, compared to the consensus estimate of $20.02 million. During the same period in the prior year, the firm earned ($0.63) earnings per share. ACADIA Pharmaceuticals’s revenue was up 30400.0% on a year-over-year basis. On average, equities analysts anticipate that ACADIA Pharmaceuticals will post ($2.55) earnings per share for the current fiscal year.
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In other news, EVP Glenn Baity sold 14,322 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 116,426 shares of company stock valued at $4,100,885. Corporate insiders own 22.25% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position 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 purchasing an additional 617 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $125,000. Oppenheimer Asset Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 10.0% in 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. boosted its holdings in ACADIA Pharmaceuticals by 138.8% in 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 purchased a new position in ACADIA Pharmaceuticals in the 1st quarter worth approximately $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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