Svb Leerink Upgrades ACADIA Pharmaceuticals (NASDAQ:ACAD) to “Outperform”

Svb Leerink upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a market perform rating to an outperform rating in a report published on Friday morning, BenzingaRatingsTable reports. The firm currently has $50.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $21.00.

ACAD has been the subject of a number of other reports. Piper Jaffray Companies upped their price target on ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the company an overweight rating in a research report on Monday, September 9th. Leerink Swann upgraded ACADIA Pharmaceuticals from a market perform rating to an outperform rating and upped their price target for the company from $21.00 to $50.00 in a research report on Friday. Raymond James upped their price target on ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the company a strong-buy rating in a research report on Friday, May 31st. Zacks Investment Research lowered ACADIA Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, September 11th. Finally, Cowen restated a buy rating and issued a $66.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. ACADIA Pharmaceuticals currently has a consensus rating of Buy and an average price target of $45.86.

ACAD stock opened at $44.01 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.79. The business has a 50 day simple moving average of $29.56 and a 200-day simple moving average of $26.76. The firm has a market capitalization of $6.36 billion, a PE ratio of -22.69 and a beta of 2.75. ACADIA Pharmaceuticals has a 1 year low of $13.87 and a 1 year high of $44.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. The business had revenue of $83.21 million during the quarter, compared to analyst estimates of $72.50 million. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The business’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.51) earnings per share. On average, equities research analysts expect that ACADIA Pharmaceuticals will post -1.87 EPS for the current year.

In related news, insider Eric Alejandro Miller sold 4,645 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $41.18, for a total value of $191,281.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Daly sold 30,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at $1,134,000. The disclosure for this sale can be found here. Insiders sold 63,112 shares of company stock valued at $2,449,443 over the last quarter. 29.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in ACADIA Pharmaceuticals by 5.8% in the first quarter. BlackRock Inc. now owns 10,718,708 shares of the biopharmaceutical company’s stock worth $287,799,000 after acquiring an additional 585,242 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in ACADIA Pharmaceuticals by 2.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock worth $201,475,000 after purchasing an additional 179,737 shares in the last quarter. First Trust Advisors LP lifted its stake in ACADIA Pharmaceuticals by 16.4% during the first quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock worth $129,304,000 after purchasing an additional 677,051 shares in the last quarter. Invesco Ltd. lifted its stake in ACADIA Pharmaceuticals by 950.3% during the second quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock worth $107,334,000 after purchasing an additional 3,633,171 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in ACADIA Pharmaceuticals by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 3,644,406 shares of the biopharmaceutical company’s stock worth $97,852,000 after purchasing an additional 15,830 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.

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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