TD Cowen analyst Ritu Baral maintained a Buy rating on ACADIA Pharmaceuticals (ACAD – Research Report) today and set a price target of $35.00. The company’s shares closed yesterday at $23.20.
Baral covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Insmed, and Sarepta Therapeutics. According to TipRanks, Baral has an average return of 10.8% and a 48.48% success rate on recommended stocks.
Currently, the analyst consensus on ACADIA Pharmaceuticals is a Strong Buy with an average price target of $34.82, a 50.09% upside from current levels. In a report released on March 1, J.P. Morgan also maintained a Buy rating on the stock with a $29.00 price target.
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Based on ACADIA Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $211.7 million and a GAAP net loss of $65.18 million. In comparison, last year the company earned a revenue of $130.71 million and had a GAAP net loss of $27.18 million
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACAD in relation to earlier this year.
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ACADIA Pharmaceuticals (ACAD) Company Description:
ACADIA Pharmaceuticals, Inc. operates as a biopharmaceutical company focused on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firms product include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. The company was founded by Mark R. Brann on July 16, 1993 and is headquartered in San Diego, CA.
Read More on ACAD:
- Acadia Pharmaceuticals should be bought on weakness, says Mizuho
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- Acadia Pharmaceuticals provides FY24 product sales guidance
- Acadia Pharmaceuticals reports Q4 EPS 28c, consensus 30c
- ACADIA Pharmaceuticals Inc. (ACAD) Q4 Earnings Cheat Sheet
