JPMorgan Chase & Co. Boosts ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $35.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $33.00 to $35.00 in a report released on Thursday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 17.86% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus set a $39.00 price target on ACADIA Pharmaceuticals and gave the stock a “hold” rating in a report on Monday, September 9th. Cowen reiterated a “buy” rating and issued a $66.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, September 9th. Bank of America set a $31.00 price objective on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 31st. ValuEngine downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC raised their price objective on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. ACADIA Pharmaceuticals has a consensus rating of “Buy” and an average price target of $49.13.

Shares of NASDAQ:ACAD traded up $1.41 during trading on Thursday, hitting $42.61. 1,014,100 shares of the company’s stock were exchanged, compared to its average volume of 1,574,526. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.96 and a quick ratio of 10.89. The business’s 50-day simple moving average is $40.28 and its 200 day simple moving average is $30.49. ACADIA Pharmaceuticals has a 52-week low of $14.01 and a 52-week high of $44.85. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -21.96 and a beta of 2.82.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.11. ACADIA Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 82.48%. The firm had revenue of $94.59 million for the quarter, compared to the consensus estimate of $88.49 million. During the same period in the prior year, the business posted ($0.50) earnings per share. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals will post -1.62 EPS for the current fiscal year.

In other news, insider Eric Alejandro Miller sold 28,467 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was sold at an average price of $39.49, for a total value of $1,124,161.83. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephen Davis sold 29,792 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $40.00, for a total value of $1,191,680.00. Following the completion of the transaction, the chief executive officer now owns 29,792 shares in the company, valued at $1,191,680. The disclosure for this sale can be found here. Insiders sold a total of 97,942 shares of company stock worth $3,840,880 over the last quarter. Company insiders own 29.40% of the company’s stock.

Several large investors have recently made changes to their positions in ACAD. AdvisorNet Financial Inc acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $27,000. North Star Investment Management Corp. acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $32,000. Coastal Investment Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $36,000. Whittier Trust Co. acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth $39,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $42,000. Institutional investors and hedge funds own 94.90% 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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