ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded to “Outperform” by Svb Leerink

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Svb Leerink upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a market perform rating to an outperform rating in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. Svb Leerink currently has $50.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $21.00.

ACAD has been the topic of several other research reports. Needham & Company LLC raised their price objective on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the stock a buy rating in a research note on Monday, September 9th. Stifel Nicolaus set a $39.00 price objective on ACADIA Pharmaceuticals and gave the stock a hold rating in a research note on Monday, September 9th. Cowen reaffirmed a buy rating and issued a $66.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, September 9th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of ACADIA Pharmaceuticals in a research note on Tuesday, September 10th. Finally, Canaccord Genuity raised ACADIA Pharmaceuticals from a hold rating to a buy rating and raised their price objective for the stock from $29.00 to $50.00 in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $45.86.

NASDAQ ACAD opened at $40.45 on Friday. The stock’s 50-day moving average price is $28.44 and its 200-day moving average price is $26.49. The company has a quick ratio of 6.79, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. ACADIA Pharmaceuticals has a 52 week low of $13.53 and a 52 week high of $43.98. The company has a market capitalization of $5.66 billion, a P/E ratio of -20.85 and a beta of 2.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The firm had revenue of $83.21 million for the quarter, compared to the consensus estimate of $72.50 million. During the same quarter last year, the company earned ($0.51) earnings per share. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. Research analysts anticipate that ACADIA Pharmaceuticals will post -1.87 EPS for the current year.

In related news, insider Eric Alejandro Miller sold 28,467 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $39.49, for a total transaction of $1,124,161.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $37.80, for a total value of $1,134,000.00. Following the sale, the director now directly owns 30,000 shares in the company, valued at approximately $1,134,000. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock worth $2,449,443 in the last three months. 29.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC bought a new stake in ACADIA Pharmaceuticals in the 1st quarter worth approximately $27,000. Twin Tree Management LP purchased a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $29,000. Steward Partners Investment Advisory LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $42,000. Quantamental Technologies LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $57,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $107,000. 97.38% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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