ACADIA Pharmaceuticals Inc. (ACAD) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $49.33.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. set a $50.00 price target on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 1st. BidaskClub raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, May 16th.

A number of institutional investors have recently modified their holdings of ACAD. BNP Paribas Arbitrage SA lifted its stake in ACADIA Pharmaceuticals by 53.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 40,796 shares of the biopharmaceutical company’s stock worth $623,000 after purchasing an additional 14,138 shares in the last quarter. Creative Planning lifted its stake in ACADIA Pharmaceuticals by 16.6% in the 2nd quarter. Creative Planning now owns 84,607 shares of the biopharmaceutical company’s stock worth $1,292,000 after purchasing an additional 12,073 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $394,000. Stonebridge Capital Management Inc. purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $213,000. Finally, Neville Rodie & Shaw Inc. purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $229,000. 96.96% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals stock traded down $0.79 during midday trading on Friday, reaching $15.44. The company had a trading volume of 2,214,832 shares, compared to its average volume of 2,845,026. The firm has a market capitalization of $2.00 billion, a PE ratio of -6.54 and a beta of 3.59. ACADIA Pharmaceuticals has a 12-month low of $14.51 and a 12-month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.12. The firm had revenue of $48.90 million for the quarter, compared to analyst estimates of $47.06 million. ACADIA Pharmaceuticals had a negative net margin of 161.44% and a negative return on equity of 71.47%. ACADIA Pharmaceuticals’s quarterly revenue was up 219.6% compared to the same quarter last year. During the same period last year, the company posted ($0.72) EPS. equities analysts anticipate that ACADIA Pharmaceuticals will post -1.71 EPS for the current fiscal year.

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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