ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded by ValuEngine to “Buy”

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ValuEngine upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research report report published on Saturday, ValuEngine reports.

ACAD has been the subject of a number of other reports. HC Wainwright reissued a buy rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 1st. BidaskClub raised shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, August 7th. Needham & Company LLC reissued a buy rating and set a $34.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, August 5th. Bank of America set a $31.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. set a $32.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $33.91.

ACADIA Pharmaceuticals stock opened at $29.45 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 firm’s 50-day moving average price is $26.70. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -15.18 and a beta of 2.85. ACADIA Pharmaceuticals has a 52-week low of $12.86 and a 52-week high of $30.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its 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 firm had revenue of $83.21 million during the quarter, compared to analyst estimates of $72.50 million. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. ACADIA Pharmaceuticals’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) EPS. Research analysts anticipate that ACADIA Pharmaceuticals will post -1.78 earnings per share for the current year.

Several large investors have recently modified their holdings of ACAD. NumerixS Investment Technologies Inc bought a new stake in ACADIA Pharmaceuticals in the second quarter worth approximately $107,000. Virtus ETF Advisers LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter worth approximately $892,000. Parametric Portfolio Associates LLC grew its position in ACADIA Pharmaceuticals by 12.2% in the second quarter. Parametric Portfolio Associates LLC now owns 66,927 shares of the biopharmaceutical company’s stock worth $1,789,000 after acquiring an additional 7,289 shares in the last quarter. Pictet Asset Management Ltd. grew its position in ACADIA Pharmaceuticals by 26.3% in the second quarter. Pictet Asset Management Ltd. now owns 358,500 shares of the biopharmaceutical company’s stock worth $9,583,000 after acquiring an additional 74,700 shares in the last quarter. Finally, Sofinnova Investments Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $4,159,000. 94.83% of the stock is owned by institutional investors.

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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