RBC Capital analyst Gregory Renza maintained a Buy rating on ACADIA Pharmaceuticals (ACAD) on April 6 and set a price target of $58.00. The company’s shares closed last Tuesday at $41.71.
According to TipRanks.com, Renza is a 5-star analyst with an average return of 41.7% and a 47.1% success rate. Renza covers the Healthcare sector, focusing on stocks such as Inovio Pharmaceuticals, Aptose Biosciences, and Xencor.
ACADIA Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $59.55, which is a 35.3% upside from current levels. In a report issued on March 24, Cowen & Co. also maintained a Buy rating on the stock with a $66.00 price target.
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Based on ACADIA Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $98.33 million and GAAP net loss of $53.04 million. In comparison, last year the company earned revenue of $59.57 million and had a GAAP net loss of $65.49 million.
Based on the recent corporate insider activity of 18 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. 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.
