Trade Report: Today, Acadia Pharmaceuticals’ (ACAD) Outperform Rating Reaffirmed at Cowen and Company

Today, Acadia Pharmaceuticals’ (ACAD) Outperform Rating Reaffirmed at Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) in a research note released on Monday. Cowen and Company currently has a $42.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on the company. Piper Jaffray Cos. reissued an overweight rating and set a $44.00 target price on shares of Acadia Pharmaceuticals in a research note on Wednesday, October 12th. Leerink Swann initiated coverage on Acadia Pharmaceuticals in a research note on Tuesday, October 4th. They set a market perform rating and a $34.00 target price for the company. Bank of America Corp. cut Acadia Pharmaceuticals from a buy rating to a neutral rating and set a $40.00 target price for the company. in a research note on Wednesday, June 22nd. They noted that the move was a valuation call. Vetr raised Acadia Pharmaceuticals from a buy rating to a strong-buy rating and set a $41.00 target price for the company in a research note on Monday, August 8th. Finally, Jefferies Group reissued a buy rating on shares of Acadia Pharmaceuticals in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $45.70.

Shares of Acadia Pharmaceuticals (NASDAQ:ACAD) opened at 24.325 on Monday. The stock’s market capitalization is $2.77 billion. Acadia Pharmaceuticals has a 1-year low of $16.64 and a 1-year high of $43.30. The firm has a 50-day moving average price of $31.28 and a 200-day moving average price of $33.15.

Acadia Pharmaceuticals (NASDAQ:ACAD) last released its 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. Acadia Pharmaceuticals had a negative return on equity of 64.25% and a negative net margin of 131,066.23%. The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. The company’s revenue for the quarter was up 96900.0% compared to the same quarter last year. On average, equities research analysts forecast that Acadia Pharmaceuticals will post ($2.14) earnings per share for the current year.

In other Acadia Pharmaceuticals news, Director Bros. Advisors Lp Baker bought 1,303,030 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $33.00 per share, with a total value of $42,999,990.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edmund Harrigan bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average cost of $32.97 per share, with a total value of $32,970.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $32,970. The disclosure for this purchase can be found here. Company insiders own 21.65% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Acadia Pharmaceuticals by 0.5% in the second quarter. FMR LLC now owns 16,969,451 shares of the biopharmaceutical company’s stock worth $550,828,000 after buying an additional 78,983 shares during the period. Vanguard Group Inc. increased its position in shares of Acadia Pharmaceuticals by 0.8% in the second quarter. Vanguard Group Inc. now owns 6,368,960 shares of the biopharmaceutical company’s stock worth $206,737,000 after buying an additional 49,421 shares during the period. Capital World Investors increased its position in shares of Acadia Pharmaceuticals by 12.9% in the second quarter. Capital World Investors now owns 3,764,000 shares of the biopharmaceutical company’s stock worth $122,179,000 after buying an additional 430,000 shares during the period. BlackRock Fund Advisors increased its position in shares of Acadia Pharmaceuticals by 10.9% in the first quarter. BlackRock Fund Advisors now owns 3,549,078 shares of the biopharmaceutical company’s stock worth $99,232,000 after buying an additional 349,519 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Acadia Pharmaceuticals by 30.1% in the second quarter. Franklin Resources Inc. now owns 3,366,686 shares of the biopharmaceutical company’s stock worth $109,283,000 after buying an additional 778,269 shares during the period. 92.07% of the stock is owned by institutional investors and hedge funds.

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