ACADIA Pharmaceuticals (ACAD) was Initiated by Leerink Partners to “Mkt Perform” and the brokerage firm has set the Price Target at $34. Leerink Partners advised their investors in a research report released on Oct 4, 2016.
On the company’s financial health, ACADIA Pharmaceuticals reported $-0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.47. The company had revenue of $.97 million for the quarter, compared to analysts expectations of $.71 million. The company’s revenue was up 96900.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.39 EPS.
ACADIA Pharmaceuticals closed down -0.89 points or -2.72% at $31.81 with 23,97,545 shares getting traded on Friday. Post opening the session at $32.71, the shares hit an intraday low of $31.25 and an intraday high of $32.77 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 13, 2016, Glenn Baity (EVP AND GC) sold 16,000 shares at $35.00 per share price. According to the SEC, on Feb 19, 2015, Uli Hacksell (CEO) sold 30,000 shares at $34.30 per share price.
ACADIA Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for the treatment of neurological and related central nervous system disorders. The Companys drug candidate NUPLAZID (pimavanserin) is under development for the treatment of Parkinsons disease psychosis Alzheimers disease psychosis Schizophrenia and Sleep disturbances. The Company is also conducting preclinical programs for alpha adrenergic agonists indicated for the treatment of chronic pain and muscarinic drugs for the treatment of glaucoma. NUPLAZID has an active ingredient pimavanserin is a selective serotonin inverse agonist (SSIA) preferentially targeting 5-HT2A receptors that was discovered by the Company. The Company in collaboration with Allergan has discovered and engaged in the development of small-molecule product candidates such as alpha adrenergic agonists and muscarinic receptors.