ACADIA Pharmaceuticals (ACAD) Initiated with a Hold at Berenberg Bank

By Jason Carr

ACADIA Pharmaceuticals (ACADResearch Report) received a Hold rating and a $29.00 price target from Berenberg Bank analyst Esther Hong today. The company’s shares closed last Wednesday at $26.13.

According to TipRanks.com, Hong is a 2-star analyst with an average return of 2.4% and a 48.8% success rate. Hong covers the Healthcare sector, focusing on stocks such as Aldeyra Therapeutics, Aprea Therapeutics, and COMPASS Pathways.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ACADIA Pharmaceuticals with a $29.56 average price target.

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ACADIA Pharmaceuticals’ market cap is currently $4.19B and has a P/E ratio of -16.10. The company has a Price to Book ratio of 7.32.

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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.