ValuEngine upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a report released on Thursday.
ACAD has been the subject of several other research reports. JPMorgan Chase & Co. reaffirmed a buy rating on shares of ACADIA Pharmaceuticals in a report on Sunday, March 3rd. Canaccord Genuity upped their price target on ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the company an in-line rating in a report on Wednesday, February 27th. Zacks Investment Research raised ACADIA Pharmaceuticals from a hold rating to a strong-buy rating and set a $25.00 price target for the company in a report on Thursday, January 17th. BidaskClub cut ACADIA Pharmaceuticals from a buy rating to a hold rating in a report on Friday, February 22nd. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $30.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, December 5th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. ACADIA Pharmaceuticals currently has an average rating of Buy and an average target price of $31.91.
NASDAQ ACAD opened at $26.85 on Thursday. ACADIA Pharmaceuticals has a twelve month low of $12.77 and a twelve month high of $28.12. The stock has a market cap of $3.86 billion, a P/E ratio of -13.84 and a beta of 3.30.
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.
Several institutional investors and hedge funds have recently modified their holdings of ACAD. Bank of New York Mellon Corp raised its holdings in shares of ACADIA Pharmaceuticals by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 440,808 shares of the biopharmaceutical company’s stock worth $6,731,000 after buying an additional 25,768 shares in the last quarter. Russell Investments Group Ltd. raised its stake in ACADIA Pharmaceuticals by 96.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 4,202 shares during the period. Comerica Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at about $1,018,000. SG Americas Securities LLC raised its stake in shares of ACADIA Pharmaceuticals by 47.5% in the 3rd quarter. SG Americas Securities LLC now owns 13,971 shares of the biopharmaceutical company’s stock valued at $290,000 after purchasing an additional 4,498 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of ACADIA Pharmaceuticals by 2.8% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 135,700 shares of the biopharmaceutical company’s stock valued at $2,817,000 after purchasing an additional 3,700 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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