ACADIA Pharmaceuticals Inc. (ACAD) Receives “Buy” Rating from Needham & Company LLC
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Sunday. They presently have a $49.00 target price on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 33.04% from the stock’s current price.
A number of other analysts have also issued reports on ACAD. Rodman & Renshaw reissued a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, May 22nd. ValuEngine raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, July 11th. Finally, HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. ACADIA Pharmaceuticals has an average rating of “Buy” and a consensus price target of $43.23.
ACADIA Pharmaceuticals (ACAD) opened at 36.83 on Friday. The company’s market capitalization is $4.51 billion. ACADIA Pharmaceuticals has a one year low of $20.68 and a one year high of $40.83. The firm has a 50-day moving average of $32.93 and a 200 day moving average of $31.59.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.17. The firm had revenue of $30.50 million during the quarter, compared to analyst estimates of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The business’s revenue was up 30400.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.63) earnings per share. Equities research analysts predict that ACADIA Pharmaceuticals will post ($2.55) earnings per share for the current fiscal year.
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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 38,097 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.00, for a total value of $1,142,910.00. Following the completion of the transaction, the executive vice president now directly owns 109,253 shares in the company, valued at $3,277,590. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 80,829 shares of company stock valued at $2,623,850 over the last quarter. 22.25% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in ACADIA Pharmaceuticals by 0.5% in the second quarter. FMR LLC now owns 18,306,966 shares of the biopharmaceutical company’s stock worth $510,582,000 after purchasing an additional 95,823 shares in the last quarter. Vanguard Group Inc. raised its holdings in ACADIA Pharmaceuticals by 1.8% in the second quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock worth $212,093,000 after purchasing an additional 134,820 shares in the last quarter. BlackRock Inc. raised its holdings in ACADIA Pharmaceuticals by 2.9% in the second quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock worth $155,925,000 after purchasing an additional 157,497 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in ACADIA Pharmaceuticals by 3.6% in the first quarter. OppenheimerFunds Inc. now owns 4,918,286 shares of the biopharmaceutical company’s stock worth $169,090,000 after purchasing an additional 170,289 shares in the last quarter. Finally, State Street Corp raised its holdings in ACADIA Pharmaceuticals by 15.8% in the second quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after purchasing an additional 510,670 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.
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 (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).
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