ACADIA Pharmaceuticals (ACAD) Receives Buy Rating from JPMorgan Chase & Co.

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

A number of other analysts have also weighed in on ACAD. Cantor Fitzgerald set a $27.00 price objective on ACADIA Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, October 31st. HC Wainwright reaffirmed a buy rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 1st. Piper Jaffray Companies lowered ACADIA Pharmaceuticals from an overweight rating to a neutral rating and set a $19.00 price objective on the stock. in a research report on Monday, August 6th. ValuEngine raised ACADIA Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, October 18th. Finally, Zacks Investment Research raised ACADIA Pharmaceuticals from a sell rating to a hold rating and set a $24.00 target price on the stock in a report on Monday, October 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. ACADIA Pharmaceuticals has a consensus rating of Buy and a consensus target price of $33.78.

ACADIA Pharmaceuticals stock opened at $21.88 on Friday. ACADIA Pharmaceuticals has a twelve month low of $12.77 and a twelve month high of $33.52. The firm has a market cap of $2.84 billion, a PE ratio of -9.27 and a beta of 3.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.08. ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The business had revenue of $58.31 million for the quarter, compared to analyst estimates of $56.31 million. During the same quarter in the prior year, the company earned ($0.53) earnings per share. The company’s revenue was up 63.9% on a year-over-year basis. As a group, research analysts forecast that ACADIA Pharmaceuticals will post -2.08 EPS for the current fiscal year.

In other ACADIA Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were purchased at an average price of $18.70 per share, with a total value of $22,641,511.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.28% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BB&T Securities LLC boosted its stake in ACADIA Pharmaceuticals by 24.1% in the second quarter. BB&T Securities LLC now owns 18,618 shares of the biopharmaceutical company’s stock valued at $284,000 after acquiring an additional 3,613 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in ACADIA Pharmaceuticals by 37.7% in the first quarter. Xact Kapitalforvaltning AB now owns 15,332 shares of the biopharmaceutical company’s stock valued at $345,000 after acquiring an additional 4,200 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in ACADIA Pharmaceuticals by 96.4% in the third quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 4,202 shares in the last quarter. SG Americas Securities LLC boosted its stake in ACADIA Pharmaceuticals by 47.5% in the third quarter. SG Americas Securities LLC now owns 13,971 shares of the biopharmaceutical company’s stock valued at $290,000 after acquiring an additional 4,498 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC boosted its stake in ACADIA Pharmaceuticals by 19.3% in the second quarter. Alpine Woods Capital Investors LLC now owns 31,010 shares of the biopharmaceutical company’s stock valued at $474,000 after acquiring an additional 5,010 shares in the last quarter. 96.01% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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