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Tag: NASDAQ: ACAD

  • Acadia Pharmaceuticals Inc Sees Positive Shift in Analysts Rating

    Acadia Pharmaceuticals Inc Sees Positive Shift in Analysts Rating

    The biopharmaceutical industry is in constant flux, with companies’ stock prices often being impacted by analysts’ ratings.

    JP Morgan issued an upgrade for the stock, shifting their rating from ‘Neutral’ to ‘Overweight.’ Alongside this positive change in sentiment, the investment bank also raised its price target for the stock from $29 to $32.

    This upgrade reflects a more bullish outlook on the US stocks performance and suggests that JP Morgan sees greater potential for price appreciation in the future.

    Understanding Analysts Rating Upgrade Before diving into the specifics of Acadia Pharmaceuticals Inc’s rating upgrade, it’s crucial to understand what an analyst’s rating upgrade means in the financial world.

    Acadia Pharmaceuticals Inc – Recent Performance

    In the recent trading session, ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) demonstrated significant positive movement. When the market closed, the stock settled at $23.42, reflecting a notable increase of $1.68, which translated to a 7.73% surge throughout the day.

    Additionally, during after-hours trading at 12:01 AM, the stock sustained this optimistic trend, trading at $23.50, showing a modest uptick of $0.08, or 0.34%.

    Reasons Behind the Upgrade

    The reasons behind an analyst rating upgrade can vary, but they often include strong financial performance, positive industry trends, or promising developments within the company.

    For Acadia Pharmaceuticals Inc, the specific reasons behind JP Morgan’s upgrade have not been publicly disclosed.

    Other Recent Development

    In another recent development within ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), it was reported that on October 6, 2023, the company’s Executive Vice President, General Counsel, and Secretary, Austin Kim, divested a total of 16,369 shares.

    This transaction is just one among several insider transactions that have been unfolding over the past year at ACADIA Pharmaceuticals Inc., highlighting the ongoing activity among company insiders.

    Conclusion

    The recent upgrade in rating for Acadia Pharmaceuticals Inc by JP Morgan analysts highlights the company’s strong potential in the biopharmaceutical sector.

    This upgrade, coupled with the increase in the stock’s price target, has resulted in a positive shift in the company’s stock performance, making it a stock to watch in the coming months.

  • Acadia Pharmaceuticals Inc. (ACAD) stock declines in the pre market trading. Let’s find out why?

    Acadia Pharmaceuticals Inc. (ACAD) stock declined by 14.42% in the pre market trading session after Acadia Pharmaceuticals has received a response letter from FDA for its supplement new drug application (sNDA). Acadia is breaking new ground in neuroscience to improve people’s lives. ACAD has been at the forefront of healthcare for over 25 years, bringing critical ideas to those who need them most. We developed and marketed the first and only FDA-approved treatment for hallucinations and delusions associated with psychosis caused by Parkinson’s disease.

    What is happening?

    The U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter to Acadia Pharmaceuticals addressing its supplementary New Drug Application (sNDA) for NUPLAZID, which is used to treat hallucinations and delusions associated with dementia-related psychosis. In their response, FDA mentioned that they had finished reviewing the application and sent a CRL, while concluded that it could not be accepted in its current state.

    According to the previous agreements with the Division of Psychiatry regarding the pivotal Phase 3 HARMONY study design, which sought to examine a large DRP patient population as a single group, the Division identified a lack of statistical significance in some dementia subgroups and inadequate numbers of patients with some less common dementia subtypes as lack of significant evidence of efficacy in order to support the approval.

    The pivotal HARMONY trial for the DRP reached its preset primary and secondary endpoints, demonstrating pimavanserin’s clinical and statistical superiority over placebo, which was a prerequisite for the DRP indication. The predefined criteria did not include statistical separation by dementia subgroups or a minimum number of patients with distinct subtypes.

    Conclusion

    With ACAD’s new drug application sNDA not getting approved, it is quite possible that the stock price has declined following this disapproval. Although ACAD is working to find its way out with the cooperation of FDA to get the approval but for now it has become a matter of disinterest for investors and therefore they are not making any bets in ACAD stock.

  • Here’s Top 25 Biotech Stocks For September 2020

    Here’s Top 25 Biotech Stocks For September 2020

    One thing constant in the world is change. As time passes there are many industries that are undergoing changes as they expand their businesses and bring new innovations. One of the industries that are known for their constant change is the biotechnology industry.

    The biotech industry is continuously changing in every aspect of daily existence with new technological breakthroughs and advancements in knowledge. Companies are constantly striving to bring new medicines and vaccines to deal with the diagnosis.

    Let’s have a look at the top 25 biotech companies which are continuously adding new trends in the market:

    Aimmune Therapeutics Inc. (NASDAQ: AIMT) shares were trading up 171.59% at $34.22 at the time of writing on Monday.

    Aimmune Therapeutics Inc. (NASDAQ: AIMT) share price went from a low point around $10.09 to briefly over $37.00 in the past 52 weeks, though shares have since pulled back to $34.22. AIMT market cap has remained high, hitting $2.13B at the time of writing, giving it a price-to-sales ratio of more than 3550.

    If we look at the recent analyst rating AIMT, Cowen initiated coverage on AIMT shares with an Outperform rating. Aimmune Therapeutics recently disclosed it has signed an agreement with Nestle S.A. As per the agreement, Nestle will pay $34.50 per share in an all-cash transaction.

    Akcea Therapeutics Inc. (AKCA) last closed at $18.28, in a 52-week range of $8.00 to $22.79. It has been disclosed yesterday that Ionis Pharmaceutical has bought the 24% shares of Akcea it hasn’t owned earlier for $18.15 per share in cash. This acquisition is one step forward to make a strong and efficient organization that gives benefits to all shareholders.

    Capricor Therapeutics Inc. (NASDAQ: CAPR) Shares headed rising, higher as much as 14.64% after Capricor Therapeutics to Present at The LD 500 Virtual Conference. Capricor market capitalization is 115.11 million. The most recent rating by Maxim Group, on December 26, 2018, is at a Hold.

    Capricor Therapeutics, a clinical-stage biotechnology company has disclosed earlier that the US Food and Drug Administration (FDA) has approved the Investigational New Drug (IND) application for a Phase 2 clinical trial of CAP-1002 in COVID-19 patients.

    Apellis Pharmaceuticals Inc. (APLS) stock soar by 14.74% to $30.83. The most recent rating by ROTH Capital, on July 20, 2020, is at a Buy. Its stock fluctuated between the 52-weeks low range of $16.85 and a 52-weeks high range of $45.04. It has moved up 82.97% from its 52-weeks low and moved down -31.55% from its 52-weeks high.

    Xeris Pharmaceuticals Inc. (NASDAQ: XERS) rose 10.71% after gaining more than $0.45 on Monday. Xeris, a specialty pharmaceutical company disclosed August 26, 2020, that the Compensation Committee of Xeris’ Board of Directors awarded non-qualified stock options for an aggregate of 500 share of its common stock to 1 new employee under the Inducement Equity Plan of Xeris.

    Xeris share price went from a low point around $1.42 to briefly over $12.29 in the past 52 weeks, though shares have since pulled back to $4.71. It has traded up $231.34% from its 52-weeks low and has traded down -61.72% from its 52-weeks high.

    9 Meters Biopharma Inc. (NASDAQ: NMTR) shares headed rising, higher as much as 7.73%. It has disclosed Monday that it has decided to form the scientific advisory board (SAB). The SAB includes an acclaimed group of six experts in the gastroenterology field with sub-specialties in celiac disease, inflammatory bowel disease (IBD), and functional GI diseases. 9 Meters have gained +0.05 during its trading on Monday. It has moved up 76.17% and moved down -49.46% from its 52-weeks low and high range, respectively.

    VBI Vaccines Inc. (NASDAQ: VBIV) rose 6.77% after gaining more than $0.27 on Monday. VBI Vaccines Presents Phase 3 Sci-B-Vac® Data at EASL 2020. During the presentation, Professor of Paediatrics at the University of Bristol, UK, and principal investigator of the CONSTANT Phase 3 clinical study, Adam Finn, M.D., Ph.D., revealed the encouraging points of hepatitis B antibodies. VBI Vaccines traded up 815.15% from its 52-weeks low and traded down -38.53% from its 52-weeks high.

    CymaBay Therapeutics Inc. (NASDAQ: CBAY) rose 5.37% after gaining more than $0.33 on Monday. It has disclosed the result of Phase 2 study of seladelpar in patients with primary biliary cholangitis (PBC). The data presented at electronic presentation showed the safety and efficacy of seladelpar over 1 year of open level treatment. These findings suggest that seladelpar treatment in a high-risk PBC patient population promotes clinically significant improvement.

    BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) rose 4.53% after gaining more than $0.18 on Monday. BioCryst Inc disclosed Monday it has received Orphan Drug Desigantion from FDA for its oral Factor D inhibitor, BCX9930. It is used for the treatment paroxysmal nocturnal hemoglobinuria (PNH). It has moved up as its announced it has received the $44 million  National Institute of Allergy and Infectious Diseases (NIAID). This amount is awarded to BCRX by NIAID to support the development of galidesivir.

    ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) Shares headed rising, higher as much as 4.24%. The most recent rating by Raymond James, on August 25, 2020, is at an Outperform. ACADIA Inc has announced earlier that it has bought CerSci Therapeutics.

    Immunomedics Inc. (IMMU) stock soar by 6.37% to $44.56. The most recent rating by Barclays, on May 05, 2020, is at an Overweight. Immunomedics stock has fluctuated between the 52-weeks low and high range of $8.80-$44.91, respectively.

    Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) last closed at $114.22, in a 52-week range of $72.67 to $121.50. Analysts have a consensus price target of $141.47.

    Seres Therapeutics Inc. (NASDAQ: MCRB) stock soar by 8.21% to $26.49.  It has moved upward 951.19% from its 52-weeks low and moved down -19.73% from its 52-weeks high. The most recent rating by Piper Sandler, on August 18, 2020, is at an Overweight.

    Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM) last closed at $29.51 after gaining +2.54 on Monday. It has a 52-week range of $12.99 to $27.97. It has moved up 127.17% and 5.51% from its 52-weeks low and high, respectively. Analysts have a consensus price target of $32.88.

    Geron Corporation (NASDAQ: GERN) Shares headed rising, higher as much as 6.22%. The most recent rating by Stifel, on August 03, 2020, is at a Buy.

    Sesen Bio Inc. (NASDAQ: SESN) rose 6.19% after gaining more than $0.06 on Monday. SESN’s stock has changed between the 52-weeks low range of $0.37 and a high range of $1.52. It has moved up and moved down 178.38%, -33.12% from its 52-weeks low and high, respectively.

    Kadmon Holdings Inc. (NYSE: KDMN) last closed at $5.00, in a 52-week range of $2.04 to $5.50. It has traded up 145.10% from its 52-weeks low and traded down -9.09% from its 52-weeks high. Looking at its liquidity, its current ratio is 6.20.

    Evofem Biosciences Inc. (EVFM) stock soar by 6.07% to $3.32 after Evofem Biosciences to Participate in Four Upcoming Investor Conferences. The most recent rating by Morgan Stanley, on August 20, 2020, is at an Equal-weight.

    MacroGenics Inc. (NASDAQ: MGNX) Shares headed rising, higher as much as 6.01%. The most recent rating by Citigroup, on August 03, 2020, is at a Neutral.

    Iovance Biotherapeutics Inc. (NASDAQ: IOVA) last closed at $33.33, in a 52-week range of $17.67 to $41.49. Analysts have a consensus price target of $47.08.

    Surface Oncology Inc. (NASDAQ: SURF) stock soar by 5.01% to $6.50. The most recent rating by Wedbush, on August 28, 2020, is at an Outperform.

    Fortress Biotech Inc. (NASDAQ: FBIO) Shares headed rising, higher as much as 4.63% after LD Micro — 360 Companies Set to Present this Week. The most recent rating by B. Riley FBR, on December 18, 2019, is at a Buy.

    Synthetic Biologics Inc. (SYN) last closed at $0.64, in a 52-week range of $0.25 to $0.75. It has moved up 153.17% from its 52-weeks low and moved down -14.87% from its 52-weeks high.

    Zogenix Inc. (NASDAQ: ZGNX) stock soar by 4.37% to $23.67. The most recent rating by Raymond James, on August 25, 2020, is at an Mkt perform. ZGNX has traded up and down 42.16% and -58.63% from its 52-weeks low and high range.

    Dynavax Technologies Corporation (NASDAQ: DVAX) rose 4.18% after gaining more than $0.24 on Monday. Dynavax to Present at the H.C. Wainwright Virtual 22nd Annual Global Investment Conference.