ACADIA Pharmaceuticals (ACAD) Given New $30.00 Price Target at Cantor Fitzgerald

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ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target lifted by Cantor Fitzgerald from $27.00 to $30.00 in a note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 46.06% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Piper Jaffray Companies raised ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research note on Thursday, September 20th. Zacks Investment Research lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, September 10th. ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 22nd. BidaskClub raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $33.78.

Shares of ACADIA Pharmaceuticals stock traded up $1.06 during midday trading on Thursday, reaching $20.54. The company had a trading volume of 32,749 shares, compared to its average volume of 2,451,029. The firm has a market cap of $2.64 billion, a P/E ratio of -8.75 and a beta of 3.45. ACADIA Pharmaceuticals has a fifty-two week low of $12.77 and a fifty-two week high of $38.00.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.06). The company had revenue of $57.06 million during the quarter, compared to analyst estimates of $58.63 million. ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. ACADIA Pharmaceuticals’s revenue was up 87.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.55) earnings per share. As a group, analysts predict that ACADIA Pharmaceuticals will post -2.08 EPS for the current year.

In other ACADIA Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of the stock in a transaction on Thursday, September 20th. The stock was acquired at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BB&T Securities LLC increased its holdings in ACADIA Pharmaceuticals by 24.1% in the second quarter. BB&T Securities LLC now owns 18,618 shares of the biopharmaceutical company’s stock worth $284,000 after purchasing an additional 3,613 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of ACADIA Pharmaceuticals by 37.7% during the first quarter. Xact Kapitalforvaltning AB now owns 15,332 shares of the biopharmaceutical company’s stock valued at $345,000 after acquiring an additional 4,200 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 96.4% during the third quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 4,202 shares in the last quarter. Alpine Woods Capital Investors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 19.3% during the second quarter. Alpine Woods Capital Investors LLC now owns 31,010 shares of the biopharmaceutical company’s stock valued at $474,000 after acquiring an additional 5,010 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of ACADIA Pharmaceuticals by 104.5% during the first quarter. Cubist Systematic Strategies LLC now owns 10,562 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 5,396 shares in the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.

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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