J.P. Morgan analyst Cory Kasimov maintained a Buy rating on ACADIA Pharmaceuticals Inc (ACAD) yesterday. The company’s shares closed last Monday at $38.85, close to its 52-week high of $43.98.
According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 2.3% and a 41.3% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and Global Blood Therapeutics.
Currently, the analyst consensus on ACADIA Pharmaceuticals Inc is a Strong Buy with an average price target of $51.57, a 23.5% upside from current levels. In a report issued on August 27, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $40 price target.
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Based on ACADIA Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $54.94 million. In comparison, last year the company had a GAAP net loss of $63.27 million.
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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.
