ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given an average recommendation of “Buy” by the seventeen research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $51.86.
Several equities research analysts have issued reports on the stock. BidaskClub raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald upped their price objective on shares of ACADIA Pharmaceuticals from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Cowen began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, November 26th. They set a “buy” rating and a $66.00 target price on the stock. Svb Leerink upgraded shares of ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $50.00 in a research report on Friday, September 13th. Finally, ValuEngine cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Shares of NASDAQ:ACAD traded down $0.11 on Tuesday, hitting $45.67. The company had a trading volume of 70,778 shares, compared to its average volume of 1,172,775. The company has a current ratio of 10.96, a quick ratio of 10.89 and a debt-to-equity ratio of 0.01. ACADIA Pharmaceuticals has a 52-week low of $14.01 and a 52-week high of $48.26. The business has a 50 day moving average of $43.63 and a 200 day moving average of $32.90. The company has a market cap of $7.12 billion, a PE ratio of -23.43 and a beta of 2.81.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. ACADIA Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 82.48%. The firm had revenue of $94.59 million during the quarter, compared to analysts’ expectations of $88.49 million. During the same quarter last year, the business posted ($0.50) EPS. The firm’s quarterly revenue was up 62.2% compared to the same quarter last year. As a group, equities analysts predict that ACADIA Pharmaceuticals will post -1.62 EPS for the current year.
In other news, EVP Michael J. Yang sold 877 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $39.65, for a total transaction of $34,773.05. Following the completion of the sale, the executive vice president now directly owns 2,500 shares in the company, valued at approximately $99,125. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen Davis sold 29,792 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $40.00, for a total value of $1,191,680.00. Following the completion of the transaction, the chief executive officer now directly owns 29,792 shares in the company, valued at $1,191,680. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,102 shares of company stock worth $3,941,125. Insiders own 29.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of ACAD. Millennium Management LLC increased its stake in ACADIA Pharmaceuticals by 98.8% during the third quarter. Millennium Management LLC now owns 1,020,864 shares of the biopharmaceutical company’s stock worth $36,740,000 after acquiring an additional 507,354 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $2,770,000. Voloridge Investment Management LLC increased its holdings in ACADIA Pharmaceuticals by 758.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 104,352 shares of the biopharmaceutical company’s stock worth $3,756,000 after purchasing an additional 92,192 shares during the last quarter. Castleark Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $6,913,000. Finally, Great Point Partners LLC raised its position in shares of ACADIA Pharmaceuticals by 46.0% in the 3rd quarter. Great Point Partners LLC now owns 2,190,742 shares of the biopharmaceutical company’s stock valued at $78,845,000 after purchasing an additional 690,742 shares in the last quarter. Hedge funds and other institutional investors own 94.47% 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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