ACADIA Pharmaceuticals (ACAD) Received its Third Buy in a Row

By Jason Carr

After Cowen & Co. and Needham gave ACADIA Pharmaceuticals (NASDAQ: ACAD) a Buy rating last month, the company received another Buy, this time from J.P. Morgan. Analyst Cory Kasimov maintained a Buy rating on ACADIA Pharmaceuticals yesterday. The company’s shares closed last Monday at $44.28, close to its 52-week high of $48.27.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 5.9% and a 48.3% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Global Blood Therapeutics, and Alexion Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ACADIA Pharmaceuticals with a $55.58 average price target, representing a 23.3% upside. In a report issued on November 26, Needham also maintained a Buy rating on the stock with a $60.00 price target.

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The company has a one-year high of $48.27 and a one-year low of $14.01. Currently, ACADIA Pharmaceuticals has an average volume of 2.1M.

Based on the recent corporate insider activity of 12 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. It operates through development and commercialization of innovative medicines segment.