ACADIA Pharmaceuticals (NASDAQ:ACAD) has been given a $39.00 price objective by investment analysts at Stifel Nicolaus in a research report issued on Monday, TipRanks reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 5.77% from the company’s current price.
Other equities research analysts also recently issued reports about the company. HC Wainwright set a $60.00 price target on ACADIA Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday. Piper Jaffray Companies boosted their price objective on ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday. BidaskClub cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 target price (up previously from $30.00) on shares of ACADIA Pharmaceuticals in a research note on Tuesday, August 27th. Finally, Needham & Company LLC raised their target price on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. ACADIA Pharmaceuticals has an average rating of “Buy” and an average price target of $43.31.
Shares of NASDAQ ACAD traded up $0.17 during trading hours on Monday, hitting $41.39. 3,218,571 shares of the stock were exchanged, compared to its average volume of 1,502,557. ACADIA Pharmaceuticals has a one year low of $13.19 and a one year high of $43.98. The company’s 50 day moving average is $27.72 and its 200 day moving average is $26.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.79. The firm has a market capitalization of $5.61 billion, a P/E ratio of -21.34 and a beta of 2.75.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. The firm had revenue of $83.21 million for the quarter, compared to the consensus estimate of $72.50 million. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.51) EPS. Research analysts anticipate that ACADIA Pharmaceuticals will post -1.77 earnings per share for the current fiscal year.
In other news, insider Eric Alejandro Miller sold 4,645 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $41.18, for a total transaction of $191,281.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the sale, the director now directly owns 30,000 shares in the company, valued at approximately $1,134,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,112 shares of company stock worth $2,449,443. Insiders own 29.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $8,039,000. Quantitative Systematic Strategies LLC increased its stake in ACADIA Pharmaceuticals by 67.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,281 shares of the biopharmaceutical company’s stock valued at $408,000 after acquiring an additional 6,134 shares during the period. New York State Common Retirement Fund increased its stake in ACADIA Pharmaceuticals by 18.2% in the first quarter. New York State Common Retirement Fund now owns 117,470 shares of the biopharmaceutical company’s stock valued at $3,154,000 after acquiring an additional 18,070 shares during the period. JPMorgan Chase & Co. raised its position in ACADIA Pharmaceuticals by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 807,216 shares of the biopharmaceutical company’s stock worth $21,674,000 after purchasing an additional 6,045 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter worth about $42,000. 97.38% of the stock is owned by hedge funds and other institutional investors.
About ACADIA Pharmaceuticals
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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