ACADIA Pharmaceuticals Inc. (ACAD) Receives Average Recommendation of “Buy” from Analysts
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been assigned a consensus rating of “Buy” from the sixteen brokerages that are currently covering the firm. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $41.09.
Several brokerages have weighed in on ACAD. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. Rodman & Renshaw reissued a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $49.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 5th. Vetr cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $37.64 price target on the stock. in a research report on Tuesday, January 31st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $47.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th.
Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up 0.39% during mid-day trading on Monday, hitting $27.96. 428,533 shares of the stock were exchanged. The stock’s 50-day moving average price is $32.00 and its 200-day moving average price is $31.95. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $42.49. The company’s market cap is $3.41 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.01. ACADIA Pharmaceuticals had a negative net margin of 4,427.79% and a negative return on equity of 58.46%. The firm had revenue of $15.30 million during the quarter, compared to analyst estimates of $15.17 million. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. Equities research analysts anticipate that ACADIA Pharmaceuticals will post ($2.83) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Baker BROS. Advisors LP purchased a new position in ACADIA Pharmaceuticals during the third quarter valued at approximately $821,327,000. BlackRock Inc. increased its position in ACADIA Pharmaceuticals by 5,422.8% in the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after buying an additional 5,334,832 shares during the last quarter. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $24,050,000. Elliott Management Corp purchased a new position in ACADIA Pharmaceuticals during the first quarter valued at approximately $26,726,000. Finally, Point72 Asset Management L.P. increased its position in ACADIA Pharmaceuticals by 57.6% in the first quarter. Point72 Asset Management L.P. now owns 1,931,200 shares of the biopharmaceutical company’s stock valued at $66,395,000 after buying an additional 706,200 shares during the last quarter. Institutional investors and hedge funds own 98.25% 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 (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
Receive News & Ratings for ACADIA Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.