ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target raised by stock analysts at Cantor Fitzgerald from $25.00 to $27.00 in a note issued to investors on Monday, October 15th, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 43.16% from the company’s current price.
The analysts wrote, “. We reiterate our Overweight rating and raise our 12-month price target to $27 from $25. In August 2018, ACADIA announced a licensing agreement with Neuren Pharmaceuticals (ASX: Rett syndrome. Although this program has yet to take center stage, we believe it is an underappreciated asset that could diversify the pipeline/business strategy over the next 12 months. We recently had an opportunity to meet with Neuren to discuss the history/future of Trofi’.””
A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. set a $50.00 price objective on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, July 1st. Piper Jaffray Companies upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a research note on Thursday, September 20th. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, September 10th. ValuEngine upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 22nd. Finally, BidaskClub upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.25.
Shares of NASDAQ ACAD traded down $0.39 during mid-day trading on Monday, reaching $18.86. 2,167,820 shares of the company’s stock were exchanged, compared to its average volume of 3,108,644. ACADIA Pharmaceuticals has a twelve month low of $12.77 and a twelve month high of $32.99.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.08. The business had revenue of $58.31 million during the quarter, compared to the consensus estimate of $56.31 million. ACADIA Pharmaceuticals had a negative return on equity of 88.18% and a negative net margin of 119.62%. ACADIA Pharmaceuticals’s quarterly revenue was up 63.9% on a year-over-year basis. During the same period last year, the company earned ($0.53) earnings per share. Research analysts anticipate that ACADIA Pharmaceuticals will post -2.07 earnings per share for the current fiscal year.
In other ACADIA Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, September 20th. The stock was bought at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 23.28% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ACAD. Point72 Asia Hong Kong Ltd lifted its holdings in ACADIA Pharmaceuticals by 822.9% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 3,958 shares during the last quarter. Verition Fund Management LLC acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $163,000. Centaurus Financial Inc. acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $169,000. NEXT Financial Group Inc acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at $176,000. Finally, Russell Investments Group Ltd. raised its holdings in ACADIA Pharmaceuticals by 96.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 4,202 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.
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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