J.P. Morgan Believes ACADIA Pharmaceuticals (NASDAQ: ACAD) Still Has Room to Grow

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on ACADIA Pharmaceuticals (ACADResearch Report) on January 12. The company’s shares closed last Thursday at $54.35, close to its 52-week high of $58.72.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 21.9% and a 57.0% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.

Currently, the analyst consensus on ACADIA Pharmaceuticals is a Strong Buy with an average price target of $61.00, implying a 14.2% upside from current levels. In a report issued on December 29, Cantor Fitzgerald also maintained a Buy rating on the stock with a $70.00 price target.

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The company has a one-year high of $58.72 and a one-year low of $30.02. Currently, ACADIA Pharmaceuticals has an average volume of 986.4K.

Based on the recent corporate insider activity of 25 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.

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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.