Roth Capital Reaffirms Neutral Rating for Acadia Pharmaceuticals Inc. (ACAD)
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “neutral” rating reiterated by investment analysts at Roth Capital in a report released on Wednesday.
A number of other research analysts have also recently weighed in on the stock. Cowen and Company restated an “outperform” rating and issued a $42.00 price objective on shares of Acadia Pharmaceuticals in a report on Monday. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $44.00 price target on shares of Acadia Pharmaceuticals in a research note on Wednesday, October 12th. Leerink Swann began coverage on shares of Acadia Pharmaceuticals in a research note on Tuesday, October 4th. They issued a “market perform” rating and a $34.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Acadia Pharmaceuticals in a research note on Sunday, September 25th. Finally, Zacks Investment Research upgraded shares of Acadia Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Five investment 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. Acadia Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $45.70.
Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 3.2322% on Wednesday, reaching $23.5436. 785,404 shares of the company’s stock were exchanged. Acadia Pharmaceuticals has a one year low of $16.64 and a one year high of $43.30. The firm’s market capitalization is $2.68 billion. The firm has a 50 day moving average of $31.04 and a 200 day moving average of $33.12.
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Acadia Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.14. The business earned $0.97 million during the quarter, compared to analyst estimates of $0.71 million. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The company’s revenue for the quarter was up 96900.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) EPS. On average, equities research analysts predict that Acadia Pharmaceuticals will post ($2.14) EPS for the current year.
In other Acadia Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 1,303,030 shares of Acadia Pharmaceuticals stock in a transaction that occurred on Wednesday, August 10th. The stock was purchased at an average price of $33.00 per share, for a total transaction of $42,999,990.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edmund Harrigan purchased 1,000 shares of Acadia Pharmaceuticals stock in a transaction that occurred on Tuesday, August 16th. The stock was acquired at an average price of $32.97 per share, with a total value of $32,970.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $32,970. The disclosure for this purchase can be found here. 21.65% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased 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 period. Winslow Evans & Crocker Inc. increased 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 period. BlackRock Inc. increased 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 period. Pacad Investment Ltd. acquired a new stake in Acadia Pharmaceuticals during the second quarter valued at approximately $198,000. Finally, IFP Advisors Inc increased 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 during the period. Hedge funds and other institutional investors own 92.07% of the company’s stock.
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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