ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been assigned a consensus rating of “Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $49.13.
ACAD has been the topic of several research reports. Oppenheimer initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 24th. They set a “market perform” rating and a $44.00 price objective on the stock. Piper Jaffray Companies increased their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Cantor Fitzgerald increased their price objective on shares of ACADIA Pharmaceuticals from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, November 1st. Finally, Royal Bank of Canada initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, October 1st. They set an “outperform” rating and a $60.00 price objective on the stock.
Shares of ACADIA Pharmaceuticals stock traded up $1.41 during trading on Friday, reaching $42.61. The company had a trading volume of 1,014,100 shares, compared to its average volume of 1,574,526. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -21.96 and a beta of 2.82. The firm’s fifty day moving average is $40.26 and its 200-day moving average is $30.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.89 and a current ratio of 10.96. ACADIA Pharmaceuticals has a fifty-two week low of $14.01 and a fifty-two week high of $44.85.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.11. The business had revenue of $94.59 million for the quarter, compared to analyst estimates of $88.49 million. ACADIA Pharmaceuticals had a negative net margin of 82.48% and a negative return on equity of 50.15%. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.50) EPS. On average, research analysts anticipate that ACADIA Pharmaceuticals will post -1.62 EPS for the current fiscal year.
In other news, Director Bros. Advisors Lp Baker purchased 1,562,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were bought at an average price of $40.00 per share, for a total transaction of $62,500,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Alejandro Miller sold 28,467 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $39.49, for a total transaction of $1,124,161.83. The disclosure for this sale can be found here. Insiders sold 97,942 shares of company stock worth $3,840,880 in the last 90 days. 29.40% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in ACAD. JGP Global Gestao de Recursos Ltda. increased its stake in shares of ACADIA Pharmaceuticals by 92.3% in the second quarter. JGP Global Gestao de Recursos Ltda. now owns 17,697 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 8,494 shares during the period. Quantitative Systematic Strategies LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 67.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,281 shares of the biopharmaceutical company’s stock valued at $408,000 after acquiring an additional 6,134 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $42,000. Dupont Capital Management Corp bought a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $527,000. Finally, Aperio Group LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 23.9% in the second quarter. Aperio Group LLC now owns 21,384 shares of the biopharmaceutical company’s stock valued at $572,000 after acquiring an additional 4,127 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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