Acadia Pharmaceuticals Inc. (ACAD) Stock Rating Reaffirmed by Cowen and Company
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “outperform” rating reaffirmed by research analysts at Cowen and Company in a report released on Monday. They presently have a $42.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s target price suggests a potential upside of 72.66% from the stock’s previous close.
ACAD has been the subject of a number of other reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $44.00 price target on shares of Acadia Pharmaceuticals in a research report on Wednesday, October 12th. Leerink Swann initiated coverage on Acadia Pharmaceuticals in a research report on Tuesday, October 4th. They set a “market perform” rating and a $34.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Acadia Pharmaceuticals in a research report on Sunday, September 25th. Zacks Investment Research raised Acadia Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Acadia Pharmaceuticals in a research report on Thursday, August 25th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.70.
Acadia Pharmaceuticals (NASDAQ:ACAD) traded up 2.767% during mid-day trading on Monday, hitting $24.325. The stock had a trading volume of 2,744,825 shares. The company’s market cap is $2.77 billion. The firm’s 50-day moving average is $31.52 and its 200 day moving average is $33.06. Acadia Pharmaceuticals has a 12 month low of $16.64 and a 12 month high of $43.30.
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Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share 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 company earned $0.97 million during the quarter, compared to the consensus estimate of $0.71 million. During the same quarter in the prior year, the business earned ($0.39) EPS. The firm’s revenue for the quarter was up 96900.0% compared to the same quarter last year. Equities analysts anticipate that Acadia Pharmaceuticals will post ($2.14) EPS for the current fiscal year.
In other Acadia Pharmaceuticals news, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was bought at an average price of $33.00 per share, with a total value of $42,999,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edmund Harrigan acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average cost of $32.97 per share, with a total value of $32,970.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $32,970. The disclosure for this purchase can be found here. 21.65% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. 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 in 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 in 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 in the last quarter. Pacad Investment Ltd. acquired a new stake in Acadia Pharmaceuticals during the second quarter valued at about $198,000. Finally, IFP Advisors Inc raised its stake in Acadia Pharmaceuticals by 17.9% in the second quarter. IFP Advisors Inc now owns 6,447 shares of the biopharmaceutical company’s stock valued at $209,000 after buying an additional 979 shares in the last quarter. 92.07% of the stock is owned by institutional investors.
About Acadia Pharmaceuticals
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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