Needham analyst Alan Carr assigned a Buy rating to ACADIA Pharmaceuticals (ACAD) today and set a price target of $60.00. The company’s shares closed last Wednesday at $49.13.
According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.5% and a 43.0% success rate. Carr covers the Healthcare sector, focusing on stocks such as Phathom Pharmaceuticals, Lexicon Pharmaceuticals, and Crispr Therapeutics AG.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ACADIA Pharmaceuticals with a $56.50 average price target, a 20.7% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $61.00 price target.
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Based on ACADIA Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $110 million and GAAP net loss of $42.14 million. In comparison, last year the company earned revenue of $83.21 million and had a GAAP net loss of $54.94 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. 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.
