Cowen & Co. Remains a Buy on ACADIA Pharmaceuticals (ACAD)

By Ryan Adsit

Cowen & Co. analyst Ritu Baral maintained a Buy rating on ACADIA Pharmaceuticals (ACADResearch Report) today and set a price target of $66.00. The company’s shares closed last Monday at $41.80.

According to TipRanks.com, Baral is a 5-star analyst with an average return of 20.8% and a 49.5% success rate. Baral covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Milestone Pharmaceuticals, and Madrigal Pharmaceuticals.

ACADIA Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $56.42.

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Based on ACADIA Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $41.98 million. In comparison, last year the company had a GAAP net loss of $65.49 million.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACAD in relation to earlier this year.

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. 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.