Acadia Pharmaceuticals Inc. (ACAD)

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Piper Jaffray Cos. Reiterates Overweight Rating for Acadia Pharmaceuticals Inc. (ACAD)

Posted by Nolan Pearson on Oct 3rd, 2016 // No Comments

Acadia Pharmaceuticals logoAcadia Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Jaffray Cos. in a note issued to investors on Monday. They presently have a $44.00 target price on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price target would suggest a potential upside of 38.32% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Vetr downgraded Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $45.04 target price for the company. in a report on Monday, June 6th. Jefferies Group reissued a “buy” rating on shares of Acadia Pharmaceuticals in a research note on Wednesday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of Acadia Pharmaceuticals in a research note on Tuesday, July 26th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Acadia Pharmaceuticals in a research note on Monday, August 8th. Finally, JMP Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Acadia Pharmaceuticals in a research note on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Acadia Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $45.80.

Analyst Recommendations for Acadia Pharmaceuticals (NASDAQ:ACAD)
Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 3.46% during trading on Monday, reaching $30.71. The company’s stock had a trading volume of 1,770,109 shares. The firm’s market capitalization is $3.50 billion. Acadia Pharmaceuticals has a 52-week low of $16.64 and a 52-week high of $43.30. The stock’s 50-day moving average is $33.17 and its 200 day moving average is $32.69.

Acadia Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.49) by $0.14. Acadia Pharmaceuticals had a negative net margin of 131,066.23% and a negative return on equity of 64.25%. The company had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $0.71 million. During the same period in the prior year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was up 96900.0% on a year-over-year basis. On average, analysts predict that Acadia Pharmaceuticals will post ($2.15) EPS for the current fiscal year.

In related news, Director Edmund Harrigan acquired 1,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average price of $32.97 per share, with a total value of $32,970.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $32,970. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the stock in a transaction dated Wednesday, August 10th. The shares were bought at an average cost of $33.00 per share, for a total transaction of $42,999,990.00. The disclosure for this purchase can be found here. Insiders own 21.65% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of Acadia Pharmaceuticals by 1,529.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,205 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 3,947 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in shares of Acadia Pharmaceuticals by 120.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,400 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 2,400 shares in the last quarter. BlackRock Inc. raised its position in shares of Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 3,153 shares in the last quarter. IFP Advisors Inc raised its position in shares of Acadia Pharmaceuticals by 28.7% in the first quarter. IFP Advisors Inc now owns 5,468 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 1,219 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Acadia Pharmaceuticals during the second quarter worth approximately $198,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Acadia Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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