ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received an average rating of “Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $29.00.
A number of brokerages have recently weighed in on ACAD. JPMorgan Chase & Co. reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Sunday, March 3rd. Canaccord Genuity increased their target price on ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 27th. ValuEngine upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. BidaskClub lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Finally, Zacks Investment Research lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th.
A number of institutional investors have recently bought and sold shares of ACAD. FMR LLC increased its stake in ACADIA Pharmaceuticals by 14.9% during the 4th quarter. FMR LLC now owns 21,543,893 shares of the biopharmaceutical company’s stock worth $348,364,000 after acquiring an additional 2,792,885 shares during the period. Great Point Partners LLC increased its stake in ACADIA Pharmaceuticals by 130.1% during the 4th quarter. Great Point Partners LLC now owns 2,752,256 shares of the biopharmaceutical company’s stock worth $44,504,000 after acquiring an additional 1,556,158 shares during the period. Norges Bank bought a new position in ACADIA Pharmaceuticals during the 4th quarter worth $15,717,000. Artisan Partners Limited Partnership increased its stake in ACADIA Pharmaceuticals by 348.2% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,131,829 shares of the biopharmaceutical company’s stock worth $30,390,000 after acquiring an additional 879,311 shares during the period. Finally, First Trust Advisors LP increased its stake in ACADIA Pharmaceuticals by 16.4% during the 1st quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock worth $129,304,000 after acquiring an additional 677,051 shares during the period. Hedge funds and other institutional investors own 93.35% of the company’s stock.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.05). The firm had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.93 million. ACADIA Pharmaceuticals had a negative return on equity of 79.74% and a negative net margin of 116.10%. ACADIA Pharmaceuticals’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. On average, research analysts predict that ACADIA Pharmaceuticals will post -1.9 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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