JPMorgan Chase & Co. set a $50.00 price objective on ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note issued to investors on Sunday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other equities analysts have also weighed in on ACAD. BidaskClub lowered ACADIA Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, May 24th. Zacks Investment Research lowered shares of ACADIA Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, May 9th. HC Wainwright reaffirmed a buy rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 16th. Finally, ValuEngine lowered shares of ACADIA Pharmaceuticals from a sell rating to a strong sell rating in a research report on Friday, March 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $47.45.
ACADIA Pharmaceuticals traded up $1.44, reaching $16.71, during mid-day trading on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 4,271,700 shares, compared to its average volume of 2,838,510. ACADIA Pharmaceuticals has a 12-month low of $14.51 and a 12-month high of $41.20. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -7.08 and a beta of 3.59.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Friday, May 4th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.12. ACADIA Pharmaceuticals had a negative return on equity of 71.47% and a negative net margin of 161.44%. The business had revenue of $48.90 million during the quarter, compared to analyst estimates of $47.06 million. During the same quarter in the previous year, the firm earned ($0.72) EPS. ACADIA Pharmaceuticals’s revenue was up 219.6% on a year-over-year basis. sell-side analysts anticipate that ACADIA Pharmaceuticals will post -1.71 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Earnest Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $133,000. Point72 Asia Hong Kong Ltd increased its holdings in ACADIA Pharmaceuticals by 822.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 3,958 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in ACADIA Pharmaceuticals by 104.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,562 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 5,396 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $335,000. Finally, BB&T Securities LLC increased its holdings in ACADIA Pharmaceuticals by 136.0% in the 4th quarter. BB&T Securities LLC now owns 12,658 shares of the biopharmaceutical company’s stock worth $381,000 after acquiring an additional 7,295 shares in the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.
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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