Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $34.3611.
A number of brokerages have recently issued reports on ACAD. UBS Group boosted their target price on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Canaccord Genuity Group raised their price target on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Bank of America reiterated a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Needham & Company LLC boosted their price objective on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 6th.
Check Out Our Latest Stock Report on ACAD
Insider Activity at ACADIA Pharmaceuticals
Institutional Investors Weigh In On ACADIA Pharmaceuticals
Several hedge funds have recently made changes to their positions in ACAD. Amundi grew its position in shares of ACADIA Pharmaceuticals by 27.7% during the 2nd quarter. Amundi now owns 34,153 shares of the biopharmaceutical company’s stock worth $864,000 after buying an additional 7,400 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $2,110,000. California State Teachers Retirement System raised its holdings in shares of ACADIA Pharmaceuticals by 2,351.9% in the second quarter. California State Teachers Retirement System now owns 3,389,669 shares of the biopharmaceutical company’s stock valued at $85,759,000 after acquiring an additional 3,251,425 shares in the last quarter. Nykredit A S purchased a new stake in ACADIA Pharmaceuticals in the second quarter worth about $38,000. Finally, Alyeska Investment Group L.P. purchased a new stake in ACADIA Pharmaceuticals in the second quarter worth about $7,850,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
ACADIA Pharmaceuticals Stock Performance
Shares of NASDAQ ACAD opened at $29.73 on Tuesday. ACADIA Pharmaceuticals has a fifty-two week low of $19.69 and a fifty-two week high of $30.96. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 22.06 and a beta of 0.81. The business’s 50 day moving average price is $26.64 and its 200-day moving average price is $23.63.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter in the previous year, the business earned $0.16 EPS. ACADIA Pharmaceuticals’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts predict that ACADIA Pharmaceuticals will post 0.63 earnings per share for the current year.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.
The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.
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