JPMorgan Chase & Co. Reiterates “Buy” Rating for ACADIA Pharmaceuticals (ACAD)

JPMorgan Chase & Co. restated their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report released on Saturday morning.

Several other research firms have also recently issued reports on ACAD. Piper Jaffray Companies raised ACADIA Pharmaceuticals from a neutral rating to an overweight rating and set a $25.00 target price on the stock in a research note on Thursday, September 20th. BidaskClub raised ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, September 25th. Zacks Investment Research raised ACADIA Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, August 22nd. Cantor Fitzgerald set a $25.00 target price on ACADIA Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, October 2nd. Finally, Stifel Nicolaus assumed coverage on ACADIA Pharmaceuticals in a research note on Tuesday, August 7th. They issued a hold rating and a $17.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $33.78.

Shares of ACAD traded up $0.37 during trading hours on Friday, hitting $22.73. The company had a trading volume of 3,099,721 shares, compared to its average volume of 2,928,301. The company has a market cap of $2.84 billion, a P/E ratio of -9.63 and a beta of 3.35. ACADIA Pharmaceuticals has a 52-week low of $12.77 and a 52-week high of $38.00.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.06). The company had revenue of $57.06 million during the quarter, compared to analysts’ expectations of $58.63 million. ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The firm’s quarterly revenue was up 87.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.55) EPS. Analysts expect that ACADIA Pharmaceuticals will post -2.08 earnings per share for the current year.

In other news, Director Bros. Advisors Lp Baker acquired 1,210,776 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were acquired at an average cost of $18.70 per share, with a total value of $22,641,511.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.28% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $163,000. Centaurus Financial Inc. bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $169,000. NEXT Financial Group Inc bought a new stake in ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $176,000. Russell Investments Group Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 96.4% during the third quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 4,202 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $179,000. 93.43% of the stock is currently owned by institutional investors and hedge funds.

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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