ACADIA Pharmaceuticals (NASDAQ:ACAD) Raised to “Buy” at Jefferies Financial Group

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Thursday, FinViz reports. The firm currently has a $25.00 target price on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 33.19% from the company’s previous close.

A number of other research analysts also recently commented on the company. JMP Securities dropped their price target on ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating for the company in a research note on Tuesday, March 1st. Citigroup boosted their price target on ACADIA Pharmaceuticals from $30.00 to $32.00 in a report on Tuesday, March 1st. Canaccord Genuity Group upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $31.00 in a report on Wednesday, March 16th. Mizuho reduced their price target on ACADIA Pharmaceuticals from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, April 19th. Finally, StockNews.com started coverage on ACADIA Pharmaceuticals in a report on Thursday, March 31st. They set a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $29.26.

Shares of ACADIA Pharmaceuticals stock opened at $18.77 on Thursday. The firm has a 50-day moving average of $18.83 and a 200-day moving average of $22.12. The stock has a market cap of $3.04 billion, a PE ratio of -14.11 and a beta of 0.68. ACADIA Pharmaceuticals has a 52-week low of $15.16 and a 52-week high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.21). The company had revenue of $115.47 million during the quarter, compared to analyst estimates of $122.22 million. ACADIA Pharmaceuticals had a negative net margin of 43.50% and a negative return on equity of 40.52%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.42) EPS. Equities analysts anticipate that ACADIA Pharmaceuticals will post -1.41 EPS for the current year.

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,483 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $18.18, for a total transaction of $99,680.94. Following the completion of the sale, the chief executive officer now owns 75,875 shares of the company’s stock, valued at $1,379,407.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 1,025 shares of the company’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $27.05, for a total value of $27,726.25. Following the completion of the transaction, the insider now directly owns 2,433 shares of the company’s stock, valued at approximately $65,812.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,472 shares of company stock worth $217,476. Corporate insiders own 28.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in ACADIA Pharmaceuticals by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,580,814 shares of the biopharmaceutical company’s stock valued at $304,707,000 after buying an additional 265,448 shares during the last quarter. State Street Corp raised its position in ACADIA Pharmaceuticals by 4.9% during the first quarter. State Street Corp now owns 5,057,194 shares of the biopharmaceutical company’s stock valued at $122,485,000 after purchasing an additional 237,241 shares during the period. First Trust Advisors LP raised its position in ACADIA Pharmaceuticals by 28.8% during the fourth quarter. First Trust Advisors LP now owns 3,352,883 shares of the biopharmaceutical company’s stock valued at $78,256,000 after purchasing an additional 750,420 shares during the period. JPMorgan Chase & Co. raised its position in ACADIA Pharmaceuticals by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 2,310,355 shares of the biopharmaceutical company’s stock valued at $55,957,000 after purchasing an additional 108,179 shares during the period. Finally, Geode Capital Management LLC raised its position in ACADIA Pharmaceuticals by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 2,164,152 shares of the biopharmaceutical company’s stock valued at $50,511,000 after purchasing an additional 143,000 shares during the period. 91.74% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals (Get Rating)

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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