Jefferies Group LLC Reaffirms “Buy” Rating for ACADIA Pharmaceuticals Inc. (ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)‘s stock had its “buy” rating restated by analysts at Jefferies Group LLC in a research report issued on Thursday. They presently have a $47.00 target price on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 31.43% from the stock’s previous close.

ACAD has been the subject of several other reports. Zacks Investment Research cut ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Monday, July 17th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of ACADIA Pharmaceuticals in a research report on Monday, October 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $45.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, October 6th. BidaskClub raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $46.21.

Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 35.76 on Thursday. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $41.20. The company has a 50-day moving average of $36.48 and a 200 day moving average of $31.70. The firm’s market capitalization is $4.38 billion.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.17. The firm had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. ACADIA Pharmaceuticals’s quarterly revenue was up 30400.0% compared to the same quarter last year. During the same period last year, the business earned ($0.63) earnings per share. On average, analysts predict that ACADIA Pharmaceuticals will post ($2.55) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group LLC Reaffirms “Buy” Rating for ACADIA Pharmaceuticals Inc. (ACAD)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/12/jefferies-group-llc-reaffirms-buy-rating-for-acadia-pharmaceuticals-inc-acad.html.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 14,322 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $34.88, for a total transaction of $499,551.36. Following the completion of the transaction, the executive vice president now directly owns 78,578 shares of the company’s stock, valued at $2,740,800.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 116,426 shares of company stock valued at $4,100,885. Company insiders own 22.25% of the company’s stock.

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares in the last quarter. Jana Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 39.8% in the first quarter. Jana Partners LLC now owns 421,140 shares of the biopharmaceutical company’s stock valued at $14,479,000 after buying an additional 119,897 shares in the last quarter. Handelsinvest Investeringsforvaltning increased its stake in shares of ACADIA Pharmaceuticals by 167.6% in the second quarter. Handelsinvest Investeringsforvaltning now owns 58,600 shares of the biopharmaceutical company’s stock valued at $1,634,000 after buying an additional 36,700 shares in the last quarter. Elliott Management Corp acquired a n

ACAD has been the subject of several other reports. Zacks Investment Research cut ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Monday, July 17th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of ACADIA Pharmaceuticals in a research report on Monday, October 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $45.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, October 6th. BidaskClub raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, ValuEngine raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $46.21.

Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 35.76 on Thursday. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $41.20. The company has a 50-day moving average of $36.48 and a 200 day moving average of $31.70. The firm’s market capitalization is $4.38 billion.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.17. The firm had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. ACADIA Pharmaceuticals’s quarterly revenue was up 30400.0% compared to the same quarter last year. During the same period last year, the business earned ($0.63) earnings per share. On average, analysts predict that ACADIA Pharmaceuticals will post ($2.55) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group LLC Reaffirms “Buy” Rating for ACADIA Pharmaceuticals Inc. (ACAD)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/12/jefferies-group-llc-reaffirms-buy-rating-for-acadia-pharmaceuticals-inc-acad.html.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 14,322 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $34.88, for a total transaction of $499,551.36. Following the completion of the transaction, the executive vice president now directly owns 78,578 shares of the company’s stock, valued at $2,740,800.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 116,426 shares of company stock valued at $4,100,885. Company insiders own 22.25% of the company’s stock.

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares in the last quarter. Jana Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 39.8% in the first quarter. Jana Partners LLC now owns 421,140 shares of the biopharmaceutical company’s stock valued at $14,479,000 after buying an additional 119,897 shares in the last quarter. Handelsinvest Investeringsforvaltning increased its stake in shares of ACADIA Pharmaceuticals by 167.6% in the second quarter. Handelsinvest Investeringsforvaltning now owns 58,600 shares of the biopharmaceutical company’s stock valued at $1,634,000 after buying an additional 36,700 shares in the last quarter. Elliott Management Corp acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at $26,726,000. Finally, Vanguard Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 4.9% in the first quarter. Vanguard Group Inc. now owns 7,469,785 shares of the biopharmaceutical company’s stock valued at $256,812,000 after buying an additional 348,141 shares in the last quarter. Institutional investors own 97.10% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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

Leave a Reply