ACADIA Pharmaceuticals (ACAD) Now Covered by Cantor Fitzgerald
Analysts at Cantor Fitzgerald assumed coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $25.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 73.73% from the stock’s previous close.
Other research analysts have also issued reports about the company. BidaskClub lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. JMP Securities reduced their price target on ACADIA Pharmaceuticals from $50.00 to $27.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 9th. HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 9th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, August 7th. They issued a “hold” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.38.
Shares of ACAD opened at $14.39 on Thursday. ACADIA Pharmaceuticals has a 52 week low of $12.77 and a 52 week high of $41.20.
Several large investors have recently bought and sold shares of ACAD. BlackRock Inc. boosted its position in shares of ACADIA Pharmaceuticals by 46.4% in the 2nd quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock worth $148,654,000 after purchasing an additional 3,085,874 shares during the last quarter. Orbimed Advisors LLC raised its stake in ACADIA Pharmaceuticals by 28.2% during the 2nd quarter. Orbimed Advisors LLC now owns 4,282,400 shares of the biopharmaceutical company’s stock worth $65,392,000 after buying an additional 941,700 shares during the period. First Trust Advisors LP raised its stake in ACADIA Pharmaceuticals by 47.7% during the 2nd quarter. First Trust Advisors LP now owns 2,603,446 shares of the biopharmaceutical company’s stock worth $39,755,000 after buying an additional 840,425 shares during the period. Millennium Management LLC raised its stake in ACADIA Pharmaceuticals by 662.1% during the 1st quarter. Millennium Management LLC now owns 661,358 shares of the biopharmaceutical company’s stock worth $14,861,000 after buying an additional 574,577 shares during the period. Finally, ING Groep NV acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth $6,966,000. Institutional investors and hedge funds own 97.07% 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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