Acadia Pharmaceuticals Inc. (ACAD) Rating Reiterated by Piper Jaffray Cos.
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Jaffray Cos. in a report issued on Wednesday. They currently have a $44.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target would suggest a potential upside of 63.69% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Cowen and Company restated an “outperform” rating and set a $42.00 target price on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. Needham & Company LLC restated a “buy” rating and set a $49.00 target price on shares of Acadia Pharmaceuticals in a research report on Friday, August 5th. Zacks Investment Research cut Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. JMP Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Acadia Pharmaceuticals in a report on Wednesday, August 10th. Finally, Aegis cut Acadia Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $54.00 to $41.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.70.
Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 4.06% on Wednesday, reaching $25.79. The company’s stock had a trading volume of 1,050,026 shares. Acadia Pharmaceuticals has a one year low of $16.64 and a one year high of $43.30. The firm’s market capitalization is $2.94 billion. The firm has a 50-day moving average price of $32.22 and a 200 day moving average price of $33.17.
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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 Zacks’ consensus estimate of ($0.49) by $0.14. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. During the same quarter last year, the business earned ($0.39) earnings per share. Acadia Pharmaceuticals’s revenue was up 96900.0% on a year-over-year basis. On average, analysts anticipate that Acadia Pharmaceuticals will post ($2.14) earnings per share for the current fiscal year.
In other news, Director Bros. Advisors Lp Baker purchased 1,303,030 shares of Acadia Pharmaceuticals stock in a transaction dated Wednesday, August 10th. The shares were purchased at an average price of $33.00 per share, with a total value of $42,999,990.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edmund Harrigan purchased 1,000 shares of Acadia Pharmaceuticals stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average cost of $32.97 per share, for a total transaction of $32,970.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $32,970. The disclosure for this purchase can be found here. Insiders own 21.65% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ACAD. Tower Research Capital LLC TRC raised its stake in Acadia Pharmaceuticals by 1,529.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,205 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 3,947 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Acadia Pharmaceuticals by 120.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,400 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 2,400 shares during the last quarter. BlackRock Inc. raised its stake in Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 3,153 shares during the last quarter. IFP Advisors Inc raised its stake in Acadia Pharmaceuticals by 28.7% in the first quarter. IFP Advisors Inc now owns 5,468 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 1,219 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new stake in Acadia Pharmaceuticals during the second quarter valued at approximately $198,000. 92.10% of the stock is currently 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 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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