Todays Report: The Acadia Pharmaceuticals Inc. (ACAD) Stock Rating Reaffirmed by Piper Jaffray Cos.

The Acadia Pharmaceuticals Inc. (ACAD) Stock Rating Reaffirmed by Piper Jaffray Cos.

Piper Jaffray Cos. restated their overweight rating on shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) in a report published on Wednesday morning. They currently have a $44.00 target price on the biopharmaceutical company’s stock.

ACAD has been the topic of several other reports. Jefferies Group reiterated a buy rating on shares of Acadia Pharmaceuticals in a report on Thursday, August 25th. Zacks Investment Research upgraded Acadia Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 25th. Vetr downgraded Acadia Pharmaceuticals from a strong-buy rating to a buy rating and set a $41.00 price target on the stock. in a report on Tuesday, July 26th. HC Wainwright reiterated a buy rating and issued a $60.00 price target on shares of Acadia Pharmaceuticals in a report on Monday, August 8th. Finally, Bank of America Corp. downgraded Acadia Pharmaceuticals from a buy rating to a neutral rating and set a $40.00 price target on the stock. in a report on Wednesday, June 22nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $45.70.

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

Acadia Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the 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 business earned $0.97 million during the quarter, compared to analysts’ expectations of $0.71 million. During the same quarter in the previous year, the company posted ($0.39) earnings per share. The company’s quarterly revenue was up 96900.0% compared to the same quarter last year. On average, analysts predict that Acadia Pharmaceuticals will post ($2.14) EPS for the current fiscal year.

In other Acadia Pharmaceuticals news, Director Edmund Harrigan acquired 1,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was purchased at an average price of $32.97 per share, with a total value of $32,970.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $32,970. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 1,303,030 shares of the 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 disclosure for this purchase can be found here. Company insiders own 21.65% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. boosted its stake in Acadia Pharmaceuticals by 5.6% in the second quarter. Prudential Financial Inc. now owns 8,058 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 428 shares during the last quarter. Hollencrest Securities LLC boosted its stake in Acadia Pharmaceuticals by 4.4% in the second quarter. Hollencrest Securities LLC now owns 12,602 shares of the biopharmaceutical company’s stock worth $409,000 after buying an additional 532 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Acadia Pharmaceuticals by 4.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 22,365 shares of the biopharmaceutical company’s stock worth $726,000 after buying an additional 914 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Acadia Pharmaceuticals by 8.0% in the second quarter. Teacher Retirement System of Texas now owns 12,633 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 931 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Acadia Pharmaceuticals by 17.9% in the second quarter. IFP Advisors Inc now owns 6,447 shares of the biopharmaceutical company’s stock worth $209,000 after buying an additional 979 shares during the period. 92.07% of the stock is owned by hedge funds and other institutional investors.

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