ACADIA Pharmaceuticals Inc Receives a Buy from Jefferies

By Ryan Adsit

In a report issued on October 10, Eun Yang from Jefferies reiterated a Buy rating on ACADIA Pharmaceuticals Inc (NASDAQ: ACAD), with a price target of $47. The company’s shares closed yesterday at $35.76.

According to TipRanks.com, Yang is a 5-star analyst with an average return of 10.5% and a 57.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, DBV Technologies SA – American, and Iovance Biotherapeutics Inc.

Currently, the analyst consensus on ACADIA Pharmaceuticals Inc is Strong Buy and the average price target is $52.60, representing a 47.1% upside.

In a report issued on October 4, Cowen & Co. also reiterated a Buy rating on the stock with a $46 price target.

The company has a one-year high of $41.20 and a one-year low of $20.68. Currently, ACADIA Pharmaceuticals Inc has an average volume of 1.43M.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACAD in relation to earlier this year. Most recently, in August 2017, Glenn Baity, the EVP AND GC of ACAD bought 6,500 shares for a total of $10,530.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ACADIA Pharmaceuticals, Inc. engages in the research, development and manufacture of pharmaceutical products. It focuses on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders. The company was founded by Mark R. Brann on July 16, 1993 and is headquartered in San Diego, CA.