ACADIA Pharmaceuticals (NASDAQ:ACAD) Lifted to “Outperform” at Leerink Swann

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Leerink Swann upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning, The Fly reports. They currently have $50.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $21.00.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC boosted their price target on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the company a buy rating in a research report on Monday, September 9th. Cantor Fitzgerald restated an overweight rating and issued a $40.00 price target (up previously from $30.00) on shares of ACADIA Pharmaceuticals in a research report on Tuesday, August 27th. Canaccord Genuity upgraded ACADIA Pharmaceuticals from a hold rating to a buy rating and boosted their price target for the company from $29.00 to $50.00 in a research report on Tuesday, September 10th. Bank of America set a $31.00 price target on ACADIA Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. restated a buy rating on shares of ACADIA Pharmaceuticals in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $45.86.

Shares of ACAD stock opened at $40.45 on Friday. The stock has a market capitalization of $5.66 billion, a PE ratio of -20.85 and a beta of 2.75. ACADIA Pharmaceuticals has a 52-week low of $13.53 and a 52-week high of $43.98. 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 (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.08. The firm had revenue of $83.21 million for the quarter, compared to analysts’ expectations of $72.50 million. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) EPS. Analysts expect that ACADIA Pharmaceuticals will post -1.87 earnings per share for the current fiscal year.

In other ACADIA Pharmaceuticals news, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the sale, the director now owns 30,000 shares of the company’s stock, valued at approximately $1,134,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Alejandro Miller sold 4,645 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $41.18, for a total value of $191,281.10. The disclosure for this sale can be found here. Insiders sold a total of 63,112 shares of company stock worth $2,449,443 in the last ninety days. 29.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 16.7% during the 4th quarter. Geode Capital Management LLC now owns 1,244,939 shares of the biopharmaceutical company’s stock worth $20,130,000 after acquiring an additional 177,701 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of ACADIA Pharmaceuticals by 289.9% during the 1st quarter. Bank of Montreal Can now owns 53,038 shares of the biopharmaceutical company’s stock worth $1,424,000 after acquiring an additional 39,435 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of ACADIA Pharmaceuticals by 13.0% during the 1st quarter. Rhumbline Advisers now owns 150,068 shares of the biopharmaceutical company’s stock worth $4,029,000 after acquiring an additional 17,252 shares in the last quarter. American International Group Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 11.4% during the 1st quarter. American International Group Inc. now owns 72,216 shares of the biopharmaceutical company’s stock worth $1,939,000 after acquiring an additional 7,418 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $219,000. 97.38% of the stock is currently owned by institutional investors.

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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