Cantor Fitzgerald Analysts Give ACADIA Pharmaceuticals (ACAD) a $27.00 Price Target

ACADIA Pharmaceuticals (NASDAQ:ACAD) has been assigned a $27.00 price target by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 36.36% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. ValuEngine raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Piper Jaffray Companies downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Monday, August 6th. Bank of America lifted their target price on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Monday, October 8th. Finally, BidaskClub downgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.44.

Shares of NASDAQ ACAD traded down $1.29 during midday trading on Wednesday, reaching $19.80. The company’s stock had a trading volume of 5,778,041 shares, compared to its average volume of 2,485,715. ACADIA Pharmaceuticals has a one year low of $12.77 and a one year high of $38.00. The company has a market capitalization of $2.72 billion, a P/E ratio of -8.39 and a beta of 3.45.

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

In related news, Director Bros. Advisors Lp Baker acquired 1,210,776 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were purchased at an average cost of $18.70 per share, with a total value of $22,641,511.20. The purchase 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in 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 purchasing an additional 4,202 shares in the last quarter. First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 125.5% during the third quarter. First Trust Advisors LP now owns 5,870,693 shares of the biopharmaceutical company’s stock valued at $121,876,000 after purchasing an additional 3,267,247 shares in the last quarter. First Midwest Bank Trust Division purchased a new position in ACADIA Pharmaceuticals during the third quarter valued at approximately $1,350,000. Peregrine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the third quarter valued at approximately $15,639,000. Finally, Essex Investment Management Co. LLC purchased a new position in ACADIA Pharmaceuticals during the third quarter valued at approximately $831,000. 93.43% of the stock is currently owned by hedge funds and other 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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