ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders, today announced Julian C. Baker has joined its Board of Directors.
“After more than 20 years as a professional investor, Julian has extensive experience in financing and building companies in the life sciences industry,” said Leslie L. Iversen, Ph.D., Chairman of ACADIA’s Board of Directors. “We welcome Julian to our board and look forward to his insights as we advance NUPLAZID™ through registration for Parkinson’s disease psychosis and position ACADIA for strong growth.”
Mr. Baker is a Managing Partner at Baker Brothers Investments, which manages long-term investment funds focused on publicly traded life sciences companies, for major university endowments and foundations. Mr. Baker and his brother Felix Baker, Ph.D., founded the firm in 2000. Mr. Baker’s career as a fund manager began in 1994 when he co-founded a biotechnology investing partnership with the Tisch family. Mr. Baker currently serves on the board of directors of Incyte Corporation, Genomic Health, Inc., and Idera Pharmaceuticals, Inc. Mr. Baker holds an A.B. Magna Cum Laude from Harvard University. (Original Source)
Shares of Acadia closed yesterday at $33.48, up $0.98 or 3.02%. ACAD has a 1-year high of $51.99 and a 1-year low of $29. The stock’s 50-day moving average is $36.38 and its 200-day moving average is $39.15.
On the ratings front, Acadia has been the subject of a number of recent research reports. In a report issued on November 6, Cowen analyst Ritu Baral reiterated a Buy rating on ACAD, with a price target of $50, which represents a potential upside of 49.3% from where the stock is currently trading. Separately, on the same day, Leerink Swann’s Paul Matteis maintained a Buy rating on the stock and has a price target of $52.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ritu Baral and Paul Matteis have a total average return of 14.9% and -23.5% respectively. Baral has a success rate of 42.7% and is ranked #135 out of 3616 analysts, while Matteis has a success rate of 16.7% and is ranked #3523.
Overall, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $44.50 which is 32.9% above where the stock closed yesterday.
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. It is engaged in the business of development and commercialization of small molecule drugs for the treatment of central nervous system disorders.