ACADIA Pharmaceuticals Inc. (ACAD) Receives $48.86 Consensus Price Target from Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $50.43.

ACAD has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $49.00 price target on shares of ACADIA Pharmaceuticals in a research report on Sunday, September 17th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $50.00 price target (up from $48.00) on shares of ACADIA Pharmaceuticals in a research report on Monday, October 2nd. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 5th. JMP Securities upped their price target on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. Finally, Bank of America upped their price target on shares of ACADIA Pharmaceuticals from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Thursday, October 5th.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 74,321 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total value of $2,240,034.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Laura Brege sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $450,900. The disclosure for this sale can be found here. 22.25% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. Utah Retirement Systems increased its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the second quarter. Utah Retirement Systems now owns 17,600 shares of the biopharmaceutical company’s stock valued at $491,000 after purchasing an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 10.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 468 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 3.6% in the second quarter. Principal Financial Group Inc. now owns 16,810 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 579 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 5.8% in the second quarter. HighTower Advisors LLC now owns 11,821 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 650 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of ACADIA Pharmaceuticals by 2.0% in the second quarter. Legal & General Group Plc now owns 33,631 shares of the biopharmaceutical company’s stock valued at $938,000 after acquiring an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up $0.12 during mid-day trading on Tuesday, hitting $28.90. 1,371,036 shares of the stock were exchanged, compared to its average volume of 1,390,000. The company has a market capitalization of $3,540.00, a price-to-earnings ratio of -11.75 and a beta of 3.79. ACADIA Pharmaceuticals has a twelve month low of $25.06 and a twelve month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The firm had revenue of $35.58 million for the quarter, compared to analyst estimates of $32.03 million. During the same period in the prior year, the firm posted ($0.61) earnings per share. The company’s quarterly revenue was up 571.3% compared to the same quarter last year. analysts forecast that ACADIA Pharmaceuticals will post -2.41 EPS for the current fiscal year.

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About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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