ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

ACAD has been the topic of several other reports. Cantor Fitzgerald reiterated a “buy” rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, August 29th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. JMP Securities reduced their price objective 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 reiterated a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 9th. Finally, Piper Jaffray Companies lowered ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $38.00.

Shares of ACADIA Pharmaceuticals stock opened at $19.85 on Tuesday. The stock has a market cap of $2.52 billion, a PE ratio of -8.41 and a beta of 3.65. ACADIA Pharmaceuticals has a 12 month low of $12.77 and a 12 month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.06). The firm had revenue of $57.06 million for the quarter, compared to the consensus estimate of $58.63 million. ACADIA Pharmaceuticals had a negative net margin of 135.99% and a negative return on equity of 78.56%. ACADIA Pharmaceuticals’s revenue for the quarter was up 87.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.55) earnings per share. sell-side analysts anticipate that ACADIA Pharmaceuticals will post -2.1 earnings per share for the current fiscal year.

In related news, Director Bros. Advisors Lp Baker purchased 1,210,776 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, September 20th. The shares were acquired at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.28% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in ACADIA Pharmaceuticals by 16.6% in the 2nd quarter. Creative Planning now owns 84,607 shares of the biopharmaceutical company’s stock worth $1,292,000 after buying an additional 12,073 shares during the period. UBS Group AG lifted its holdings in ACADIA Pharmaceuticals by 103.3% in the 1st quarter. UBS Group AG now owns 439,087 shares of the biopharmaceutical company’s stock worth $9,866,000 after buying an additional 223,065 shares during the period. ING Groep NV purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $6,966,000. Commonwealth Equity Services LLC purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter worth approximately $314,000. Finally, Millennium Management LLC lifted its holdings in ACADIA Pharmaceuticals by 662.1% in 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. Institutional investors and hedge funds own 92.93% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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