ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus recommendation of “Buy” from the nineteen analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $59.69.
A number of equities research analysts have recently commented on ACAD shares. Raymond James assumed coverage on shares of ACADIA Pharmaceuticals in a report on Monday, August 24th. They set an “outperform” rating and a $65.00 price target on the stock. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $61.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Stifel Nicolaus raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $71.00 in a report on Monday, July 6th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $58.00 price objective for the company in a report on Thursday, July 16th. Finally, Citigroup lowered their target price on shares of ACADIA Pharmaceuticals from $69.00 to $63.00 in a research note on Tuesday, July 21st.
Shares of NASDAQ ACAD traded down $0.78 during trading on Monday, reaching $41.36. The company had a trading volume of 1,045,338 shares, compared to its average volume of 1,036,892. ACADIA Pharmaceuticals has a 12-month low of $30.02 and a 12-month high of $58.72. The business’s 50-day moving average is $39.16 and its 200 day moving average is $44.72.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.17. The firm had revenue of $110.10 million during the quarter, compared to analyst estimates of $105.65 million. ACADIA Pharmaceuticals had a negative return on equity of 33.49% and a negative net margin of 57.28%. As a group, analysts forecast that ACADIA Pharmaceuticals will post -1.65 earnings per share for the current fiscal year.
In related news, EVP Michael J. Yang sold 27,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $56.25, for a total transaction of $1,532,812.50. Following the completion of the sale, the executive vice president now directly owns 12,704 shares in the company, valued at $714,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. CSat Investment Advisory L.P. purchased a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $29,000. Sowell Financial Services LLC increased its position in ACADIA Pharmaceuticals by 17.2% in the first quarter. Sowell Financial Services LLC now owns 1,754 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 258 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in ACADIA Pharmaceuticals in the second quarter worth about $95,000. Federated Hermes Inc. bought a new position in shares of ACADIA Pharmaceuticals in the second quarter worth about $161,000. Finally, Ovata Capital Management Ltd purchased a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $186,000. Institutional investors and hedge funds own 96.08% 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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