ACADIA Pharmaceuticals Inc (ACAD) Received its Third Buy in a Row
After Cantor Fitzgerald and JMP Securities gave ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Tazeen Ahmad maintained a Buy rating on ACADIA Pharmaceuticals Inc today and set a price target of $25. The company’s shares opened today at $21.02.
According to TipRanks.com, Ahmad is a 4-star analyst with an average return of 13.9% and a 45.1% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Principia Biopharma Inc, Pacira Pharmaceuticals, and Adamas Pharmaceuticals.
ACADIA Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $29.33, a 39.5% upside from current levels. In a report issued on October 2, Cantor Fitzgerald also maintained a Buy rating on the stock with a $25 price target.
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The company has a one-year high of $38 and a one-year low of $12.77. Currently, ACADIA Pharmaceuticals Inc has an average volume of 2.81M.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACAD in relation to earlier this year.
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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. It operates through development and commercialization of innovative medicines segment.