Cowen & Co. analyst Ritu Baral maintained a Buy rating on ACADIA Pharmaceuticals (ACAD) yesterday and set a price target of $66.00. The company’s shares closed last Monday at $44.53.
According to TipRanks.com, Baral is a 5-star analyst with an average return of 17.4% and a 48.2% success rate. Baral covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Milestone Pharmaceuticals, and Madrigal Pharmaceuticals.
Currently, the analyst consensus on ACADIA Pharmaceuticals is a Strong Buy with an average price target of $57.33, representing a 34.1% upside. In a report issued on February 20, H.C. Wainwright also reiterated a Buy rating on the stock with a $60.00 price target.
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Based on ACADIA Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $53.04 million. In comparison, last year the company had a GAAP net loss of $65.49 million.
Based on the recent corporate insider activity of 17 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.
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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.
