JPMorgan Chase & Co. Analysts Give ACADIA Pharmaceuticals (NASDAQ:ACAD) a $32.00 Price Target

JPMorgan Chase & Co. set a $32.00 price objective on ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report released on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on ACAD. BidaskClub raised shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday. Needham & Company LLC reaffirmed a buy rating and issued a $34.00 price target (down previously from $40.00) on shares of ACADIA Pharmaceuticals in a research note on Tuesday, July 23rd. HC Wainwright reaffirmed a buy rating on shares of ACADIA Pharmaceuticals in a research note on Friday, May 3rd. Raymond James lifted their price target on shares of ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the company a strong-buy rating in a research note on Friday, May 31st. Finally, Bank of America set a $31.00 price target on shares of ACADIA Pharmaceuticals and gave the company a buy rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $32.08.

ACADIA Pharmaceuticals stock opened at $28.73 on Wednesday. The business’s 50 day moving average price is $25.88. ACADIA Pharmaceuticals has a fifty-two week low of $12.77 and a fifty-two week high of $29.32. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -14.81 and a beta of 2.85. The company has a quick ratio of 6.29, a current ratio of 6.35 and a debt-to-equity ratio of 0.02.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 71.70%. The business had revenue of $83.21 million for the quarter, compared to analyst estimates of $72.50 million. During the same quarter last year, the firm earned ($0.51) EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, research analysts anticipate that ACADIA Pharmaceuticals will post -1.9 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 5.8% in the first quarter. BlackRock Inc. now owns 10,718,708 shares of the biopharmaceutical company’s stock valued at $287,799,000 after purchasing an additional 585,242 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of ACADIA Pharmaceuticals by 16.4% in the first quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock valued at $129,304,000 after purchasing an additional 677,051 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 3,644,406 shares of the biopharmaceutical company’s stock valued at $97,852,000 after purchasing an additional 15,830 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of ACADIA Pharmaceuticals by 8.8% in the fourth quarter. Deutsche Bank AG now owns 2,010,567 shares of the biopharmaceutical company’s stock valued at $32,509,000 after purchasing an additional 162,679 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 1,244,939 shares of the biopharmaceutical company’s stock valued at $20,130,000 after purchasing an additional 177,701 shares during the last quarter. Institutional investors own 93.30% 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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