Canaccord Genuity analyst Sumant Kulkarni maintained a Buy rating on ACADIA Pharmaceuticals (ACAD) today and set a price target of $56.00. The company’s shares closed last Thursday at $49.34, close to its 52-week high of $53.71.
According to TipRanks.com, Kulkarni is a 5-star analyst with an average return of 12.7% and a 48.1% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Intra-Cellular Therapies, and Zynerba Pharmaceuticals.
ACADIA Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $59.58.
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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 26 insiders, corporate insider sentiment is neutral on the stock.
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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.
