Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “outperform” rating reissued by analysts at Cowen and Company in a report released on Friday. They presently have a $42.00 target price on the biopharmaceutical company’s stock. Cowen and Company’s price target would indicate a potential upside of 28.44% from the stock’s previous close.
Several other brokerages also recently commented on ACAD. Vetr raised shares of Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $45.04 price target for the company in a report on Monday, June 13th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $44.00 price target on shares of Acadia Pharmaceuticals in a report on Monday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price target on shares of Acadia Pharmaceuticals in a report on Friday, August 5th. Aegis downgraded shares of Acadia Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price target for the company from $54.00 to $41.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Acadia Pharmaceuticals in a report on Sunday, September 25th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Acadia Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $45.80.
Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 2.81% during mid-day trading on Friday, reaching $31.78. The company had a trading volume of 1,705,840 shares. The firm has a 50-day moving average price of $33.18 and a 200 day moving average price of $32.61. Acadia Pharmaceuticals has a 12-month low of $16.64 and a 12-month high of $43.30. The firm’s market capitalization is $3.62 billion.
Acadia Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.14. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The business earned $0.97 million during the quarter, compared to analysts’ expectations of $0.71 million. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. The firm’s quarterly revenue was up 96900.0% on a year-over-year basis. Analysts expect that Acadia Pharmaceuticals will post ($2.15) EPS for the current year.
In other Acadia Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 1,303,030 shares of the stock in a transaction on Wednesday, August 10th. The stock was acquired at an average cost of $33.00 per share, with a total value of $42,999,990.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn Baity sold 4,057 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $35.00, for a total transaction of $141,995.00. Following the completion of the sale, the executive vice president now directly owns 66,978 shares of the company’s stock, valued at $2,344,230. The disclosure for this sale can be found here. Insiders own 21.65% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in Acadia Pharmaceuticals by 42.1% in the first quarter. State Street Corp now owns 3,364,426 shares of the biopharmaceutical company’s stock valued at $94,072,000 after buying an additional 997,205 shares in the last quarter. A.R.T. Advisors LLC increased its stake in Acadia Pharmaceuticals by 1,992.8% in the first quarter. A.R.T. Advisors LLC now owns 155,645 shares of the biopharmaceutical company’s stock valued at $4,351,000 after buying an additional 148,208 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Acadia Pharmaceuticals during the first quarter valued at $14,399,000. BlackRock Group LTD increased its stake in Acadia Pharmaceuticals by 40.3% in the first quarter. BlackRock Group LTD now owns 84,381 shares of the biopharmaceutical company’s stock valued at $2,360,000 after buying an additional 24,237 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 3,153 shares in the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.
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 disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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.