ACADIA Pharmaceuticals (ACAD) PT Raised to $25.00
ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective increased by Bank of America from $22.00 to $25.00 in a report issued on Wednesday. They currently have a buy rating on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued a buy rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, August 29th. BidaskClub cut ACADIA Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, August 9th. JMP Securities lowered their price target on ACADIA Pharmaceuticals from $50.00 to $27.00 and set a market outperform rating for the company in a research note on Thursday, August 9th. HC Wainwright reissued a buy rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 9th. Finally, Zacks Investment Research upgraded ACADIA Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $33.22.
Shares of NASDAQ ACAD opened at $21.72 on Wednesday. The company has a market capitalization of $2.60 billion, a P/E ratio of -9.20 and a beta of 3.43. ACADIA Pharmaceuticals has a 52 week low of $12.77 and a 52 week high of $38.00.
In related news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, September 20th. The stock was purchased at an average cost of $18.70 per share, for a total transaction of $22,641,511.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.28% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Gofen & Glossberg LLC IL acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $211,000. NEXT Financial Group Inc acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $176,000. Northern Trust Corp lifted its holdings in shares of ACADIA Pharmaceuticals by 157.5% during the second quarter. Northern Trust Corp now owns 1,261,535 shares of the biopharmaceutical company’s stock worth $19,264,000 after buying an additional 771,631 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ACADIA Pharmaceuticals by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 440,808 shares of the biopharmaceutical company’s stock worth $6,731,000 after buying an additional 25,768 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $163,000. Institutional investors own 92.93% 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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