ACADIA Pharmaceuticals (ACAD) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Andrew Fein maintained a Buy rating on ACADIA Pharmaceuticals (ACADResearch Report) today and set a price target of $36.00. The company’s shares closed last Wednesday at $19.89.

According to TipRanks.com, Fein has 0 stars on 0-5 stars ranking scale with an average return of -14.5% and a 27.7% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Amylyx Pharmaceuticals Inc, and Deciphera Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ACADIA Pharmaceuticals with a $29.08 average price target, implying a 45.8% upside from current levels. In a report issued on April 28, JMP Securities also maintained a Buy rating on the stock with a $35.00 price target.

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Based on ACADIA Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $131 million and GAAP net loss of $43.09 million. In comparison, last year the company earned revenue of $121 million and had a GAAP net loss of $66.76 million.

Based on the recent corporate insider activity of 19 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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