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ACADIA Pharmaceuticals (ACAD) Receives a Buy from JMP Securities

JMP Securities analyst Jason Butler reiterated a Buy rating on ACADIA Pharmaceuticals (ACADResearch Report) today and set a price target of $23.00. The company’s shares closed yesterday at $16.62.

According to TipRanks, Butler is an analyst with an average return of -4.9% and a 41.42% success rate. Butler covers the Healthcare sector, focusing on stocks such as Concert Pharma, Applied Molecular Transport, and Precigen.

In addition to JMP Securities, ACADIA Pharmaceuticals also received a Buy from Cowen & Co.’s Ritu Baral in a report issued yesterday. However, on August 5, Citigroup downgraded ACADIA Pharmaceuticals (NASDAQ: ACAD) to a Hold.

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The company has a one-year high of $28.06 and a one-year low of $12.24. Currently, ACADIA Pharmaceuticals has an average volume of 2.72M.

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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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