ACADIA Pharmaceuticals (ACAD) Raised to Buy at ValuEngine

ValuEngine upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research report released on Thursday morning.

A number of other analysts also recently commented on ACAD. BidaskClub upgraded ACADIA Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, February 28th. Canaccord Genuity raised their price objective on ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the stock an in-line rating in a research report on Wednesday, February 27th. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, January 31st. Cantor Fitzgerald reiterated a buy rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 27th. Finally, Piper Jaffray Companies raised their price objective on ACADIA Pharmaceuticals to $30.00 and gave the stock an overweight rating in a research report on Thursday, February 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $31.91.

Shares of ACAD stock opened at $26.68 on Thursday. ACADIA Pharmaceuticals has a 12 month low of $12.77 and a 12 month high of $28.12. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of -13.75 and a beta of 3.30.



ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, February 26th. The biopharmaceutical company reported ($0.50) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.05. ACADIA Pharmaceuticals had a negative return on equity of 77.14% and a negative net margin of 109.56%. The company had revenue of $59.57 million during the quarter, compared to the consensus estimate of $59.46 million. During the same quarter last year, the company earned ($0.55) EPS. The company’s quarterly revenue was up 36.8% on a year-over-year basis. On average, sell-side analysts expect that ACADIA Pharmaceuticals will post -1.87 earnings per share for the current fiscal year.

In other news, Director Laura Brege sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $200,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 23.28% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 1,244,939 shares of the biopharmaceutical company’s stock valued at $20,130,000 after buying an additional 177,701 shares during the period. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $15,717,000. FMR LLC increased its stake in shares of ACADIA Pharmaceuticals by 14.9% in the 4th quarter. FMR LLC now owns 21,543,893 shares of the biopharmaceutical company’s stock valued at $348,364,000 after buying an additional 2,792,885 shares during the period. Amalgamated Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $232,000. Finally, Millennium Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 116.2% in the 4th quarter. Millennium Management LLC now owns 905,416 shares of the biopharmaceutical company’s stock valued at $14,641,000 after buying an additional 486,673 shares during the period.

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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