Cantor Fitzgerald Boosts ACADIA Pharmaceuticals (ACAD) Price Target to $30.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective raised by Cantor Fitzgerald from $27.00 to $30.00 in a report published on Thursday, The Fly reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also issued reports on the company. Piper Jaffray Companies upgraded ACADIA Pharmaceuticals from a neutral rating to an overweight rating and set a $25.00 price target for the company in a report on Thursday, September 20th. Zacks Investment Research lowered ACADIA Pharmaceuticals from a hold rating to a sell rating in a report on Monday, September 10th. ValuEngine upgraded ACADIA Pharmaceuticals from a strong sell rating to a sell rating in a report on Saturday, September 22nd. BidaskClub upgraded ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, September 25th. Finally, HC Wainwright restated a buy rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $33.78.

Shares of ACADIA Pharmaceuticals stock opened at $22.73 on Thursday. ACADIA Pharmaceuticals has a 52-week low of $12.77 and a 52-week high of $38.00.

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

In related news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, September 20th. The stock was purchased 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 SEC, which is accessible through this hyperlink. 23.28% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $163,000. Centaurus Financial Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $169,000. NEXT Financial Group Inc acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $176,000. Russell Investments Group Ltd. lifted 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 worth $178,000 after buying an additional 4,202 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $179,000. Hedge funds and other institutional investors own 93.43% 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.

Featured Article: How to interpret a stock’s beta number

The Fly

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply