ACADIA Pharmaceuticals (ACAD) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $30.00 target price on the biopharmaceutical company’s stock.

According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “

ACAD has been the topic of a number of other research reports. Leerink Swann reiterated a market perform rating on shares of ACADIA Pharmaceuticals in a report on Monday, October 9th. HC Wainwright reiterated a buy rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. JMP Securities boosted their price objective on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an outperform rating in a report on Thursday, October 5th. Jefferies Group reiterated a buy rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, October 12th. Finally, BidaskClub upgraded shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $48.86.

ACADIA Pharmaceuticals (NASDAQ:ACAD) opened at $28.37 on Tuesday. ACADIA Pharmaceuticals has a 1-year low of $25.06 and a 1-year high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted ($0.61) EPS. The firm’s revenue was up 571.3% compared to the same quarter last year. equities analysts anticipate that ACADIA Pharmaceuticals will post -2.41 earnings per share for the current fiscal year.

In other news, EVP Glenn Baity sold 74,321 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Brege sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $30.06, for a total transaction of $751,500.00. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $450,900. The disclosure for this sale can be found here. 22.25% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. San Francisco Sentry Investment Group CA bought a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $125,000. Oppenheimer Asset Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 10.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 468 shares during the last quarter. Turner Investments LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $188,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ACADIA Pharmaceuticals by 43.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,710 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of ACADIA Pharmaceuticals by 56.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 2,358 shares during the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “ACADIA Pharmaceuticals (ACAD) Rating Increased to Buy at Zacks Investment Research” was first reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://transcriptdaily.com/2018/01/13/acadia-pharmaceuticals-acad-rating-increased-to-buy-at-zacks-investment-research.html.

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).

Get a free copy of the Zacks research report on ACADIA Pharmaceuticals (ACAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply