ACADIA Pharmaceuticals Now Covered by Analysts at JPMorgan Chase & Co. (ACAD)
Research analysts at JPMorgan Chase & Co. began coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $33.00 price target on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 74.88% from the stock’s previous close.
In other ACADIA Pharmaceuticals news, Director Torsten Rasmussen sold 32,857 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.03, for a total value of $658,125.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on ACAD. Analysts at Jefferies Group raised their price target on shares of ACADIA Pharmaceuticals from $26.00 to $38.00 in a research note on Tuesday, March 4th. Analysts at Zacks downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.29.
ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up 1.38% on Thursday, hitting $19.13. The stock had a trading volume of 930,149 shares. ACADIA Pharmaceuticals has a 52 week low of $12.72 and a 52 week high of $32.00. The stock’s 50-day moving average is $20.45 and its 200-day moving average is $23.43. The company’s market cap is $1.893 billion. ACADIA Pharmaceuticals also saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 14,527,055 shares, a growth of 10.8% from the April 15th total of 13,111,252 shares. Based on an average daily volume of 2,141,032 shares, the days-to-cover ratio is currently 6.8 days. Approximately 14.9% of the company’s shares are short sold.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.06. Analysts expect that ACADIA Pharmaceuticals will post $-0.81 EPS for the current fiscal year.
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of small molecule drugs for the treatment of central nervous system disorders.
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