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ACADIA Pharmaceuticals (ACAD) Receives a Buy from SVB Securities

In a report issued on May 5, Marc Goodman from SVB Securities reiterated a Buy rating on ACADIA Pharmaceuticals (ACADResearch Report), with a price target of $31.00. The company’s shares closed last Friday at $17.88.

According to TipRanks.com, Goodman is ranked 0 out of 5 stars with an average return of -5.2% and a 38.8% success rate. Goodman covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Opthea Limited Sponsored ADR, and Amylyx Pharmaceuticals Inc.

Currently, the analyst consensus on ACADIA Pharmaceuticals is a Moderate Buy with an average price target of $29.07, representing a 56.8% upside. 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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ACADIA Pharmaceuticals’ market cap is currently $2.88B and has a P/E ratio of -17.08.

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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