ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given an average rating of “Hold” by the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $41.45.
Several equities research analysts have weighed in on ACAD shares. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, May 1st. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 9th. BidaskClub raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 16th. JPMorgan Chase & Co. set a $50.00 target price on ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 1st. Finally, Stifel Nicolaus began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, August 7th. They set a “hold” rating and a $17.00 target price on the stock.
NASDAQ ACAD traded down $0.05 during trading hours on Wednesday, hitting $12.98. 67,893 shares of the company were exchanged, compared to its average volume of 2,873,150. ACADIA Pharmaceuticals has a 52 week low of $12.77 and a 52 week high of $41.20. The stock has a market capitalization of $1.87 billion, a P/E ratio of -5.50 and a beta of 3.58.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.06). ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The company had revenue of $57.06 million for the quarter, compared to the consensus estimate of $58.63 million. During the same period in the previous year, the firm earned ($0.55) earnings per share. The company’s revenue was up 87.2% compared to the same quarter last year. equities analysts predict that ACADIA Pharmaceuticals will post -1.95 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd grew its stake in shares of ACADIA Pharmaceuticals by 822.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 3,958 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 104.5% in the first quarter. Cubist Systematic Strategies LLC now owns 10,562 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 5,396 shares during the period. Verition Fund Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $163,000. Centaurus Financial Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $169,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $179,000. 97.45% 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.
Further Reading: Earnings Per Share
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