Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $30.67.
A number of research firms have issued reports on ACAD. JPMorgan Chase & Co. reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Sunday, March 3rd. Canaccord Genuity raised their price target on shares of ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 27th. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Thursday, January 17th. ValuEngine raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, BidaskClub lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd.
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in ACADIA Pharmaceuticals by 47.5% in the 3rd quarter. SG Americas Securities LLC now owns 13,971 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 4,498 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ACADIA Pharmaceuticals by 9.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 480,326 shares of the biopharmaceutical company’s stock worth $9,972,000 after acquiring an additional 39,518 shares in the last quarter. BlackRock Inc. increased its holdings in ACADIA Pharmaceuticals by 0.5% in the 3rd quarter. BlackRock Inc. now owns 9,786,905 shares of the biopharmaceutical company’s stock worth $203,175,000 after acquiring an additional 51,804 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth $243,000. Finally, Pacer Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth $365,000. 97.03% of the stock is owned by hedge funds and other institutional investors.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. ACADIA Pharmaceuticals had a negative net margin of 109.56% and a negative return on equity of 77.14%. The company had revenue of $59.57 million during the quarter, compared to analyst estimates of $59.46 million. During the same period last year, the firm posted ($0.55) EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 36.8% compared to the same quarter last year. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals will post -1.87 EPS for the current fiscal year.
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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