Acadia Pharmaceuticals’ (ACAD) Outperform Rating Reaffirmed at Cowen and Company
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “outperform” rating reaffirmed by Cowen and Company in a research report issued on Monday. They currently have a $42.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s price objective would suggest a potential upside of 77.44% from the company’s current price.
ACAD has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Acadia Pharmaceuticals in a research note on Sunday, September 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $44.00 price target on shares of Acadia Pharmaceuticals in a research note on Wednesday, October 12th. Leerink Swann started coverage on Acadia Pharmaceuticals in a research note on Tuesday, October 4th. They set a “market perform” rating and a $34.00 price target on the stock. Vetr raised Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, August 2nd. Finally, Jefferies Group reissued a “buy” rating on shares of Acadia Pharmaceuticals in a research note on Thursday, August 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.70.
Acadia Pharmaceuticals (NASDAQ:ACAD) traded up 3.21% during trading on Monday, reaching $24.43. The company’s stock had a trading volume of 1,128,057 shares. The stock’s market cap is $2.79 billion. Acadia Pharmaceuticals has a 12 month low of $16.64 and a 12 month high of $43.30. The company’s 50-day moving average is $31.52 and its 200-day moving average is $33.06.
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Acadia Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly 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 firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. During the same period in the previous year, the business posted ($0.39) earnings per share. The business’s revenue for the quarter was up 96900.0% compared to the same quarter last year. Equities analysts expect that Acadia Pharmaceuticals will post ($2.14) EPS for the current fiscal year.
In related news, Director Edmund Harrigan acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average cost of $32.97 per share, with a total value of $32,970.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $32,970. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was bought at an average cost of $33.00 per share, for a total transaction of $42,999,990.00. The disclosure for this purchase can be found here. 21.65% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc raised its position in Acadia Pharmaceuticals by 19.7% in the first quarter. Commonwealth Equity Services Inc now owns 11,531 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 1,895 shares in the last quarter. Aperio Group LLC increased its stake in shares of Acadia Pharmaceuticals by 29.6% in the first quarter. Aperio Group LLC now owns 18,964 shares of the biopharmaceutical company’s stock worth $530,000 after buying an additional 4,335 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Acadia Pharmaceuticals by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 364,302 shares of the biopharmaceutical company’s stock worth $10,186,000 after buying an additional 3,393 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Acadia Pharmaceuticals by 3.1% in the first quarter. Teachers Advisors Inc. now owns 362,844 shares of the biopharmaceutical company’s stock worth $10,145,000 after buying an additional 10,980 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 3,153 shares during the last quarter. 92.07% of the stock is currently 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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