Trade Report: Today, Acadia Pharmaceuticals Inc. (ACAD) Upgraded to Buy at Bank of America Corp.

Today, Acadia Pharmaceuticals Inc. (ACAD) Upgraded to Buy at Bank of America Corp.

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) was upgraded by investment analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $35.00 price objective on the biopharmaceutical company’s stock. Bank of America Corp.’s target price would indicate a potential upside of 24.82% from the stock’s previous close. The analysts noted that the move was a valuation call.

Other research analysts also recently issued reports about the company. Cowen and Company reissued an “outperform” rating and issued a $42.00 price objective on shares of Acadia Pharmaceuticals in a research note on Tuesday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of Acadia Pharmaceuticals in a research note on Friday, August 5th. Zacks Investment Research downgraded Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $44.00 price objective on shares of Acadia Pharmaceuticals in a research note on Tuesday, July 26th. Finally, JMP Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Acadia Pharmaceuticals in a research note on Wednesday, August 10th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.67.

Acadia Pharmaceuticals (NASDAQ:ACAD) traded down 0.64% on Tuesday, reaching $28.04. The company’s stock had a trading volume of 777,826 shares. The company’s market cap is $3.40 billion. The firm’s 50-day moving average price is $25.63 and its 200 day moving average price is $31.92. Acadia Pharmaceuticals has a 52-week low of $16.64 and a 52-week high of $42.49.

Acadia Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.05. Acadia Pharmaceuticals had a negative net margin of 4,427.79% and a negative return on equity of 58.46%. The company earned $5.30 million during the quarter, compared to the consensus estimate of $2.90 million. During the same quarter last year, the firm posted ($0.39) EPS. The company’s quarterly revenue was up 13489.7% on a year-over-year basis. Equities analysts anticipate that Acadia Pharmaceuticals will post ($2.34) EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 3,153 shares in the last quarter. BlackRock Group LTD raised its position in Acadia Pharmaceuticals by 40.3% in the first quarter. BlackRock Group LTD now owns 84,381 shares of the biopharmaceutical company’s stock valued at $2,360,000 after buying an additional 24,237 shares in the last quarter. State Street Corp raised its position in Acadia Pharmaceuticals by 42.1% in the first quarter. State Street Corp now owns 3,364,426 shares of the biopharmaceutical company’s stock valued at $94,072,000 after buying an additional 997,205 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Acadia Pharmaceuticals by 5.1% in the first quarter. UBS Asset Management Americas Inc. now owns 805,484 shares of the biopharmaceutical company’s stock valued at $22,522,000 after buying an additional 39,224 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Acadia Pharmaceuticals by 30.2% in the first quarter. Pictet Asset Management Ltd. now owns 311,216 shares of the biopharmaceutical company’s stock valued at $5,372,000 after buying an additional 72,189 shares in the last quarter. 90.80% of the stock is owned by institutional investors.

Acadia Pharmaceuticals Company Profile

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