ACADIA Pharmaceuticals Inc. (ACAD) Earns Buy Rating from Piper Jaffray Companies
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a report released on Thursday. They presently have a $61.00 target price on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 55.85% from the company’s current price.
ACAD has been the subject of several other reports. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Monday, July 17th. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of ACADIA Pharmaceuticals in a research note on Monday. BidaskClub upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.01.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded down 2.27% during mid-day trading on Thursday, hitting $38.25. The stock had a trading volume of 3,499,798 shares. ACADIA Pharmaceuticals has a 1-year low of $20.68 and a 1-year high of $41.20. The firm’s 50 day moving average price is $35.59 and its 200 day moving average price is $31.62. The company’s market cap is $4.68 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.17. The company had revenue of $30.50 million during the quarter, compared to the consensus estimate of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The firm’s revenue for the quarter was up 30400.0% compared to the same quarter last year. During the same period last year, the business posted ($0.63) EPS. Analysts predict that ACADIA Pharmaceuticals will post ($2.54) earnings per share for the current fiscal year.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 14,322 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total transaction of $499,551.36. Following the transaction, the executive vice president now owns 78,578 shares of the company’s stock, valued at approximately $2,740,800.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 78,926 shares of company stock worth $2,566,760. Insiders own 22.25% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of ACADIA Pharmaceuticals by 23.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 617 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of ACADIA Pharmaceuticals by 138.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 2,548 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $125,000. Oppenheimer Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $161,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $202,000. 97.10% of the stock is currently owned by hedge funds and other 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 (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.