Acadia Pharmaceuticals (NASDAQ:ACAD) has received a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $51.27.
ACAD has been the topic of a number of analyst reports. Zacks Investment Research cut Acadia Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. BidaskClub cut Acadia Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. ValuEngine cut Acadia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. Finally, JPMorgan Chase set a $50.00 price target on Acadia Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, April 10th.
Shares of ACAD stock traded up $0.90 during midday trading on Thursday, reaching $19.88. 759,271 shares of the stock were exchanged, compared to its average volume of 2,491,673. Acadia Pharmaceuticals has a 1 year low of $15.74 and a 1 year high of $41.20. The company has a market capitalization of $2,356.87, a price-to-earnings ratio of -8.39 and a beta of 3.43.
Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.03. Acadia Pharmaceuticals had a negative return on equity of 73.02% and a negative net margin of 231.71%. The firm had revenue of $43.56 million for the quarter, compared to the consensus estimate of $45.30 million. research analysts forecast that Acadia Pharmaceuticals will post -1.82 earnings per share for the current year.
In related news, EVP Glenn Baity sold 36,558 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $32.39, for a total value of $1,184,113.62. Following the transaction, the executive vice president now directly owns 83,734 shares of the company’s stock, valued at approximately $2,712,144.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel B. Soland acquired 7,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average cost of $23.91 per share, for a total transaction of $167,370.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $47,820. The disclosure for this purchase can be found here. Corporate insiders own 22.25% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new position in Acadia Pharmaceuticals in the 4th quarter valued at approximately $335,000. Handelsbanken Fonder AB lifted its holdings in shares of Acadia Pharmaceuticals by 10.5% during the 4th quarter. Handelsbanken Fonder AB now owns 210,000 shares of the biopharmaceutical company’s stock valued at $6,323,000 after buying an additional 20,000 shares during the period. BB&T Securities LLC lifted its holdings in shares of Acadia Pharmaceuticals by 136.0% during the 4th quarter. BB&T Securities LLC now owns 12,658 shares of the biopharmaceutical company’s stock valued at $381,000 after buying an additional 7,295 shares during the period. LPL Financial LLC lifted its holdings in shares of Acadia Pharmaceuticals by 70.3% during the 4th quarter. LPL Financial LLC now owns 158,672 shares of the biopharmaceutical company’s stock valued at $4,778,000 after buying an additional 65,517 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Acadia Pharmaceuticals by 40.7% during the 4th quarter. Millennium Management LLC now owns 86,781 shares of the biopharmaceutical company’s stock valued at $2,613,000 after buying an additional 25,112 shares during the period. 96.24% of the stock is currently owned by institutional investors and hedge funds.
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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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