J P Morgan Chase & Co Analysts Give ACADIA Pharmaceuticals Inc. (ACAD) a $50.00 Price Target
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been assigned a $50.00 price target by equities research analysts at J P Morgan Chase & Co in a report released on Thursday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 29.74% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Friday, August 11th. Piper Jaffray Companies set a $54.00 target price on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of ACADIA Pharmaceuticals in a report on Monday, October 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $46.21.
ACADIA Pharmaceuticals (NASDAQ ACAD) traded up 0.63% during mid-day trading on Thursday, hitting $38.54. 2,006,767 shares of the stock were exchanged. The company’s market capitalization is $4.72 billion. ACADIA Pharmaceuticals has a 1-year low of $20.68 and a 1-year high of $41.20. The stock has a 50 day moving average price of $36.00 and a 200 day moving average price of $31.68.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.17. The firm had revenue of $30.50 million for the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The company’s revenue for the quarter was up 30400.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.63) EPS. On average, equities analysts anticipate that ACADIA Pharmaceuticals will post ($2.53) earnings per share for the current fiscal year.
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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 14,322 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $34.88, for a total transaction of $499,551.36. Following the transaction, the executive vice president now directly owns 78,578 shares in the company, valued at approximately $2,740,800.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 116,426 shares of company stock worth $4,100,885. Company insiders own 22.25% of the company’s stock.
Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake in ACADIA Pharmaceuticals by 23.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after acquiring an additional 617 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 valued at $150,000 after acquiring an additional 2,548 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at $125,000. Oppenheimer Asset Management Inc. bought a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $161,000. Finally, Flagship Harbor Advisors LLC bought a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $202,000. Institutional investors and hedge funds own 97.10% 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).
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