ACADIA Pharmaceuticals (ACAD) Shares Gap Up to $16.33

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $16.51, but opened at $16.33. ACADIA Pharmaceuticals shares last traded at $16.33, with a volume of 6013752 shares.

ACAD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, April 10th. ValuEngine lowered shares of ACADIA Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, March 23rd. BidaskClub lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, May 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. ACADIA Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $47.45.

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The company has a market capitalization of $1.96 billion, a P/E ratio of -6.92 and a beta of 3.39.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Friday, May 4th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.12. ACADIA Pharmaceuticals had a negative net margin of 161.44% and a negative return on equity of 71.47%. The company had revenue of $48.90 million during the quarter, compared to the consensus estimate of $47.06 million. During the same period in the prior year, the business posted ($0.72) EPS. The company’s quarterly revenue was up 219.6% on a year-over-year basis. equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post -1.71 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 822.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,439 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 3,958 shares during the period. Earnest Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ACADIA Pharmaceuticals by 30.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,403 shares of the biopharmaceutical company’s stock valued at $223,000 after purchasing an additional 1,733 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of ACADIA Pharmaceuticals by 104.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,562 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 5,396 shares during the period. Finally, Commonwealth Equity Services LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $314,000. Institutional investors own 97.18% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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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