ACADIA Pharmaceuticals Inc. (ACAD) Given Average Recommendation of “Buy” by Analysts
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received an average rating of “Buy” from the sixteen analysts that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $50.43.
A number of analysts have recently weighed in on the company. ValuEngine upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Leerink Swann reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, October 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 5th.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded down $1.57 during trading hours on Monday, hitting $27.03. The stock had a trading volume of 1,883,798 shares, compared to its average volume of 1,674,653. ACADIA Pharmaceuticals has a 52 week low of $24.31 and a 52 week high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The company had revenue of $35.58 million during the quarter, compared to analyst estimates of $32.03 million. During the same period last year, the company posted ($0.61) earnings per share. The firm’s quarterly revenue was up 571.3% compared to the same quarter last year. sell-side analysts predict that ACADIA Pharmaceuticals will post -2.44 EPS for the current year.
In other news, EVP Glenn Baity sold 26,507 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $34.87, for a total transaction of $924,299.09. Following the completion of the transaction, the executive vice president now directly owns 94,163 shares in the company, valued at approximately $3,283,463.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.25% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of ACAD. BlackRock Inc. grew its position in shares of ACADIA Pharmaceuticals by 5,422.8% during the 1st quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock worth $186,791,000 after buying an additional 5,334,832 shares during the period. Janus Henderson Group PLC bought a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $102,152,000. Goldman Sachs Group Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 69.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock valued at $53,222,000 after purchasing an additional 785,352 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of ACADIA Pharmaceuticals by 60.8% during the 2nd quarter. First Trust Advisors LP now owns 1,402,029 shares of the biopharmaceutical company’s stock valued at $39,103,000 after purchasing an additional 530,103 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of ACADIA Pharmaceuticals by 15.8% during the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock valued at $104,551,000 after purchasing an additional 510,670 shares in the last quarter. Institutional investors own 95.27% 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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