Acadia Pharmaceuticals Inc. (ACAD) Trading 1.7% Higher
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) shares traded up 1.7% during trading on Wednesday . The company traded as high as $35.34 and last traded at $34.96, with a volume of 888,162 shares trading hands. The stock had previously closed at $34.36.
A number of research analysts have recently commented on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Acadia Pharmaceuticals in a research note on Thursday. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $44.00 price objective on shares of Acadia Pharmaceuticals in a research note on Friday, July 8th. Zacks Investment Research raised shares of Acadia Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. Vetr downgraded shares of Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $41.00 price objective for the company. in a research note on Tuesday, July 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Acadia Pharmaceuticals in a research note on Monday, August 8th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $45.80.
The company’s market capitalization is $3.68 billion. The firm has a 50-day moving average price of $34.38 and a 200-day moving average price of $30.21.
Acadia Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.14. The business earned $0.97 million during the quarter, compared to the consensus estimate of $0.71 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. The firm’s revenue for the quarter was up 96900.0% on a year-over-year basis. On average, equities analysts forecast that Acadia Pharmaceuticals Inc. will post ($2.15) earnings per share for the current year.
In other news, Director Edmund Harrigan acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were bought at an average price of $32.97 per share, with a total value of $32,970.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $32,970. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn Baity sold 4,057 shares of Acadia Pharmaceuticals stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $35.00, for a total value of $141,995.00. Following the sale, the executive vice president now directly owns 66,978 shares in the company, valued at approximately $2,344,230. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Acadia Pharmaceuticals stock. Morgan Stanley increased its stake in shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,183 shares of the biopharmaceutical company’s stock after buying an additional 27,260 shares during the period. Morgan Stanley owned about 0.32% of Acadia Pharmaceuticals worth $11,449,000 at the end of the most recent quarter.
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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