After J.P. Morgan and Needham gave ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Ritu Baral maintained a Buy rating on ACADIA Pharmaceuticals Inc today and set a price target of $42. The company’s shares closed yesterday at $25.97.
According to TipRanks.com, Baral is a top 100 analyst with an average return of 26.1% and a 51.5% success rate. Baral covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals Inc, NGM Biopharmaceuticals Inc, and Allena Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ACADIA Pharmaceuticals Inc with a $39.67 average price target.
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Based on ACADIA Pharmaceuticals Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $85.3 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.
