Other research analysts have also recently issued research reports about the stock. J P Morgan Chase & Co set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the company a buy rating in a report on Thursday, October 5th. Piper Jaffray Companies restated a buy rating and issued a $61.00 target price (up previously from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. JMP Securities upped their target price on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an outperform rating in a report on Thursday, October 5th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a report on Friday, September 1st. Finally, HC Wainwright restated a buy rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $46.21.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The business had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. During the same quarter in the prior year, the business posted ($0.63) EPS. The company’s revenue for the quarter was up 30400.0% on a year-over-year basis.
In related news, EVP Glenn Baity sold 14,322 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $34.88, for a total value of $499,551.36. Following the completion of the sale, the executive vice president now owns 78,578 shares in the company, valued at approximately $2,740,800.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 116,426 shares of company stock valued at $4,100,885. 22.25% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in ACADIA Pharmaceuticals by 138.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 2,548 shares during the last quarter. Jana Partners LLC raised its position in ACADIA Pharmaceuticals by 39.8% in the 1st quarter. Jana Partners LLC now owns 421,140 shares of the biopharmaceutical company’s stock valued at $14,479,000 after purchasing an additional 119,897 shares during the last quarter. Handelsinvest Investeringsforvaltning raised its position in ACADIA Pharmaceuticals by 167.6% in the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 58,600 shares of the biopharmaceutical company’s stock valued at $1,634,000 after purchasing an additional 36,700 shares during the last quarter. Elliott Management Corp purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at $26,726,000. Finally, Vanguard Group Inc. raised its position in ACADIA Pharmaceuticals by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 7,469,785 shares of the biopharmaceutical company’s stock valued at $256,812,000 after purchasing an additional 348,141 shares during the last quarter. Hedge funds and other institutional investors own 97.10% of the company’s stock.
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).
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