ACADIA Pharmaceuticals Inc. (ACAD) PT Raised to $46.00
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had its target price raised by equities research analysts at Bank of America Corporation from $40.00 to $46.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has a “positive” rating on the biopharmaceutical company’s stock. Bank of America Corporation’s target price would indicate a potential upside of 17.53% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. JMP Securities increased their target price on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $50.00 price objective (up from $48.00) on shares of ACADIA Pharmaceuticals in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $49.00 price objective on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. Finally, ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.55.
ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 39.14 on Thursday. The firm has a 50-day moving average of $35.59 and a 200 day moving average of $31.62. The stock’s market capitalization is $4.79 billion. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $40.83.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.17. The company had revenue of $30.50 million for 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 firm’s quarterly revenue was up 30400.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.63) EPS. On average, analysts predict that ACADIA Pharmaceuticals will post ($2.54) earnings per share for the current fiscal year.
In related news, EVP Glenn Baity sold 14,322 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total value of $499,551.36. Following the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is available at this link. Insiders sold a total of 78,926 shares of company stock worth $2,566,760 over the last ninety days. Insiders own 22.25% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 23.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 617 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of ACADIA Pharmaceuticals by 138.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares during the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $125,000. Oppenheimer Asset Management Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $161,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $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).
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