ACADIA Pharmaceuticals (ACAD) Stock Rating Upgraded by Zacks Investment Research
ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $30.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 4.79% from the company’s current price.
According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “
ACAD has been the subject of a number of other research reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of ACADIA Pharmaceuticals in a research report on Monday, October 2nd. Goldman Sachs Group reissued a “neutral” rating and set a $45.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, October 6th. Leerink Swann reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $49.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Sunday, September 17th. Finally, Bank of America boosted their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $48.86.
Shares of ACADIA Pharmaceuticals (ACAD) opened at $28.63 on Tuesday. ACADIA Pharmaceuticals has a 1 year low of $25.06 and a 1 year high of $41.20. The company has a market cap of $3,500.00, a P/E ratio of -11.64 and a beta of 3.79.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The business had revenue of $35.58 million during the quarter, compared to the consensus estimate of $32.03 million. During the same quarter in the previous year, the firm posted ($0.61) EPS. The firm’s revenue was up 571.3% on a year-over-year basis. equities analysts predict that ACADIA Pharmaceuticals will post -2.41 earnings per share for the current year.
In related news, EVP Glenn Baity sold 74,321 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total transaction of $2,240,034.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Laura Brege sold 25,000 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $450,900. The disclosure for this sale can be found here. 22.25% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACAD. San Francisco Sentry Investment Group CA purchased a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at $125,000. Oppenheimer Asset Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 10.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 468 shares in the last quarter. Turner Investments LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $188,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ACADIA Pharmaceuticals by 43.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,710 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in ACADIA Pharmaceuticals by 56.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 2,358 shares in the last quarter. Institutional investors own 94.02% of the company’s stock.
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ACADIA Pharmaceuticals Company Profile
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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