Fintel reports that on July 28, 2023, Oppenheimer maintained coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Perform recommendation.
Analyst Price Forecast Suggests 12.99% Downside
As of July 6, 2023, the average one-year price target for Acadia Pharmaceuticals is 25.27. The forecasts range from a low of 12.12 to a high of $37.80. The average price target represents a decrease of 12.99% from its latest reported closing price of 29.04.
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The projected annual revenue for Acadia Pharmaceuticals is 597MM, an increase of 14.76%. The projected annual non-GAAP EPS is -0.80.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 30 owner(s) or 6.33% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.20%, an increase of 4.10%. Total shares owned by institutions decreased in the last three months by 0.33% to 163,983K shares. 
The put/call ratio of ACAD is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 41,938K shares representing 25.79% ownership of the company. In it's prior filing, the firm reported owning 41,923K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in ACAD by 7.14% over the last quarter.
Rtw Investments holds 8,243K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 3,671K shares, representing an increase of 55.47%. The firm increased its portfolio allocation in ACAD by 170.78% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.68% ownership of the company. No change in the last quarter.
D. E. Shaw holds 4,901K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 4,219K shares, representing an increase of 13.90%. The firm increased its portfolio allocation in ACAD by 4.72% over the last quarter.
Price T Rowe Associates holds 4,551K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 4,279K shares, representing an increase of 5.97%. The firm increased its portfolio allocation in ACAD by 17.00% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Additional reading:
- Acadia Pharmaceuticals Acquires Ex-North American Rights to Trofinetide and Global Rights to Neuren’s NNZ-2591 in Rett Syndrome and Fragile X Syndrome — Expanded agreement follows Acadia’s April 2023 U.S. launch of DAYBUE™ (trofinetide) as the first
- Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
- PROCEEDS AGREEMENT
- Acadia Pharmaceuticals Reports First Quarter 2023 Financial Results and Operating Overview - 1Q23 NUPLAZID® net sales of $118.5 million - Announced the U.S. FDA Approval of DAYBUE™ (trofinetide) for the Treatment of Rett Syndrome in Adult and Pediatr
- Acadia Pharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Operating Overview - Full year 2022 net sales of $517.2 million, an increase of 7% over 2021 - Prescription Drug User Fee Act (PDUFA) action date set for March 12,
This story originally appeared on Fintel.
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