Acadia Pharmaceuticals Inc. (ACAD) Trading 3.7% Higher
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price traded up 3.7% during mid-day trading on Tuesday . The stock traded as high as $36.59 and last traded at $36.12, with a volume of 2,324,231 shares traded. The stock had previously closed at $34.82.
Several equities analysts have recently issued reports on the company. Jefferies Group restated a “buy” rating on shares of Acadia Pharmaceuticals in a research report on Thursday, August 25th. Piper Jaffray Cos. restated an “overweight” rating and set a $44.00 target price on shares of Acadia Pharmaceuticals in a research report on Friday, July 8th. Zacks Investment Research upgraded Acadia Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Vetr lowered Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $41.00 target price for the company. in a research report on Tuesday, July 26th. Finally, HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Acadia Pharmaceuticals in a research report on Monday, August 8th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $45.80.
The stock’s market cap is $4.10 billion. The company’s 50 day moving average is $33.35 and its 200-day moving average is $31.95.
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Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.49) by $0.14. The firm earned $0.97 million during the quarter, compared to the consensus estimate of $0.71 million. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. Acadia Pharmaceuticals’s revenue for the quarter was up 96900.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.39) earnings per share. On average, equities analysts expect that Acadia Pharmaceuticals Inc. will post ($2.15) earnings per share for the current fiscal year.
In related news, Director Edmund Harrigan purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was bought at an average price of $32.97 per share, with a total value of $32,970.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $32,970. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Glenn Baity sold 4,057 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $35.00, for a total value of $141,995.00. Following the completion of the sale, the executive vice president now directly owns 66,978 shares of the company’s stock, valued at approximately $2,344,230. The disclosure for this sale can be found here. 21.65% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of ACAD. Canada Pension Plan Investment Board bought a new stake in shares of Acadia Pharmaceuticals during the first quarter valued at $14,399,000. Massmutual Trust Co. FSB ADV bought a new stake in shares of Acadia Pharmaceuticals during the first quarter valued at $279,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Acadia Pharmaceuticals by 5.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,092,959 shares of the biopharmaceutical company’s stock valued at $58,519,000 after buying an additional 114,358 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Acadia Pharmaceuticals by 10.9% in the first quarter. BlackRock Fund Advisors now owns 3,549,078 shares of the biopharmaceutical company’s stock valued at $99,232,000 after buying an additional 349,519 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Acadia Pharmaceuticals by 40.3% in the first quarter. BlackRock Group LTD now owns 84,381 shares of the biopharmaceutical company’s stock valued at $2,360,000 after buying an additional 24,237 shares during the last quarter. 92.10% of the stock is owned by 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 disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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