|Bid||41.00 x 800|
|Ask||40.84 x 800|
|Day's Range||40.60 - 42.07|
|52 Week Range||14.01 - 44.85|
|Beta (3Y Monthly)||1.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 4, 2019 - Nov 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||52.42|
ACADIA Pharmaceuticals Inc. , a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders, today announced the closing of its previously announced underwritten public offering of 7,187,500 shares of its common stock, which includes 937,500 shares of common stock sold pursuant to the underwriters’ ...
— New data presented at the International Congress of Parkinson’s Disease and Movement Disorders will highlight treatment benefit of pimavanserin in patients with comorbid Parkinso
ACADIA Pharmaceuticals Inc. (ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system (CNS) disorders, today announced the pricing of an underwritten public offering of 6,250,000 shares of its common stock, offered at a price to the public of $40.00 per share. The gross proceeds from this offering to ACADIA are expected to be approximately $250 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by ACADIA. ACADIA has granted the underwriters a 30-day option to purchase up to an aggregate of 937,500 additional shares of common stock.
ACADIA Pharmaceuticals Inc. (ACAD), a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system (CNS) disorders, today announced that it intends to offer and sell, in an underwritten public offering and subject to market and other conditions, $250,000,000 of its common stock. BofA Merrill Lynch and J.P. Morgan Securities LLC are acting as the joint book-running managers for the offering. ACADIA intends to grant the underwriters a 30-day option to purchase up to an additional $37,500,000 of its common stock.
The stock market was relatively calm on Tuesday as investors await a rate decision from the Federal Reserve on Wednesday. There were still some big movers on the day though, so let's look at a few top stock trades. Top Stock Trades for Tomorrow 1: BoeingAs investors grow optimistic about getting the MAX 737 back in action, Boeing (NYSE:BA) stock is coiling and looking to move higher.InvestorPlace - Stock Market News, Stock Advice & Trading TipsShares have been consolidating between $375 and $385. In order to trigger a move higher, BA stock needs to clear $385. Just overhead -- near $387 -- is the 38.2% retracement. If Boeing can clear both marks, a rally into the $390s is possible. Above the March high and BA may even fill the gap back up over $410. * 7 Tech Stocks You Should Avoid Now If shares resolve lower, see that recent uptrend support (blue line) buoys the name. Top Stock Trades for Tomorrow 2: Aurora CannabisI hate to say it, but investors should have seen the decline coming in Aurora Cannabis (NYSE:ACB) stock. InvestorPlace readers have been leery of ACB for months now, and our recent call that shares may fall again only reiterated that cautious stance.Now breaking below the August lows, let's see if ACB draws in buyers near $5. We can't trust the name on the long side while it's below $5.40 -- at least in the short term. Even if it does reclaim this mark, it's only good for a short-term bounce.Below $5 and the December lows are possible, but let's take it one step at a time and see if it hits $5 to begin with. Top Stock Trades for Tomorrow 3: PinterestPinterest (NYSE:PINS) wants to begin rallying again, but it faces a tough road with high-growth tech stocks under pressure recently. On the charts, there's a lot of overhead, too.$30 is a significant mark, while the 50-day moving average is up at $30.57 and the declining 20-day moving average is at $31.05. $32 has also proven significant. Not to pummel you with numbers, but making matters even more complicated, the 50% retracement is at $29.94 and the 38.2% is at $31.57.So let's simplify it.PINS has a lot of marks between $30 and $32. Above $32 and it has mostly blue skies. Below $30 and it has the 100-day moving average at $29 and uptrend support at $28.Even simpler? Above $32 is bullish, below $28 is bearish. Top Stock Trades for Tomorrow 4: CorningCorning (NYSE:GLW) is getting hit hard on Tuesday, down more than 7%. On the weekly chart above, we can see shares being rejected by the 100-week moving average.It puts a key support zone on watch just below current levels. The ~$27 mark has been notable over the last three years, while the 200-week moving average stepped up as big-time support last month. That's currently at $26.50.Below that mark and GLW is in trouble. If we get a dip down into the $27 area, aggressive investors have a better risk/reward there than here, but GLW isn't my cup of tea. Top Stock Trades for Tomorrow 5: Acadia PharmaceuticalsAcadia Pharmaceuticals (NASDAQ:ACAD) has been a beast lately, gapping from $23.77 to almost $39 in a single move.ACAD stock consolidated that move beautifully in a narrowing range, before resolving higher on Monday. It tried to breakout over $44 again on Tuesday -- which has been multi-day resistance -- but was rejected. * 7 Momentum Stocks to Buy On the Dip Over $44 puts the $44.85 highs on the table and over that, ACAD can regain upside momentum. A break below $40 signals that Acadia needs more time to consolidate.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long PINS. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post 5 Top Stock Trades for Wednesday: BA, ACB, PINS appeared first on InvestorPlace.
Health-sector biotech stocks are a fascinating area for investment. They are risky – these are companies that inhabit a capital-intensive environment requiring heavy R&D expenditures over a significant length of time before they produce a marketable medical product. And once they have a product, be it a new drug, testing protocol, or medical device, they also must satisfy government and industry regulators. This is not an investment sector for the faint-hearted.It does, however, balance those risks with a high upside potential. New drugs and medical devices can quickly generate serious profits. The large profit potential lies behind the high upside investors can find in the health/biotech sector.We’ve used TipRanks’ Trending Stocks tool to pick put three biotechs that offer investors just such a high upside. Using the tool’s filters, we’ve sorted for the last three days’ most rated stocks in the healthcare sector, and chosen three Strong Buys with upside potentials in excess of 20%. All have been reviewed in the past five days. Let’s get started. Acadia Pharmaceuticals, Inc. (ACAD)Acadia Pharmaceuticals (ACAD – Get Report) is known for its work in the treatment of central nervous system disorders. The company markets Nuplazid, the only FDA approved drug for the treatment of the delusion and hallucinations that can be associated with Parkinson’s disease. In addition, the company announced this week that Nuplazid had just completed another Phase 3 trial, called Harmony, intended to evaluate its efficacy in treating additional dementia-related psychoses. According to the company, Nuplazid showed “robust statistical superiority” over placebos.The investor response to the trial result was quick and decisive. ACAD jumped 63% after the news, and then another 6% yesterday. The stock still has upward momentum; it is up 5.4% in pre-market trading.Opening a new market for a pharmaceutical, expanding its base of potential customers, is a path to higher profits, a basic fact that underlies analyst optimism on ACAD. Sumant Kulkarni, of Canaccord Genuity, upgraded his firm’s outlook on the stock, moving it from neutral to buy and setting a $50 price target. His new target indicates confidence in a 21% upside.From H. C. Wainwright, analyst Andrew Fein set an even more bullish target of $60. In his comments, he said, “Our $60 PT is based on an equally weighted composite of: (a) $72.34/share, as a 35x multiple of taxed and diluted FY22 GAAP EPS of $3.53 discounted back to and (b) an NPV of $47.63/share (discount rate 10%, growth rate 2%).” Wainwright’s target suggests an upside of 45%.Even after its sudden pop, ACAD shares retain a 23% upside potential. The stock is selling for $41.50, and has an average price target of $51.38. The Strong Buy analyst consensus is based on 9 ratings, including 8 buys and 1 hold, set in the past three months. Alexion Pharmaceuticals, Inc. (ALXN)While individual health sector stocks can show a high upside the sector as a whole has only gained 2.99% this year, well behind the S&P gain of 18.85%. Alexion Pharmaceuticals (ALXN – Get report), however, has outperformed its peers, with a year-to-date gain of 12.5%. Alexion has several drugs on the market already, giving it resources to maintain its position in the face of adverse legal decisions.It used those resources last week, when the European Patent Office rendered a decision that may allow generic copycatting of Alexion’s Soliris as early as 2021. The company has hoped for patent protection to be extended to 2027. But losing the patent decision was not a deal-breaker for Alexion; the company is now engaged in shifting customers to its related medication, Ultomiris. Ultomiris is showing fast growth in the US market, and company expects to see a similar pattern in Europe in the near future.Top analysts agree that Alexion has a clear pathway to maintain profitability. Piper Jaffray’s Christopher Raymond says, “The only indication affected by the EPO's decision is paroxysmal nocturnal hemoglobinuria. As such, we see a limited impact on Alexion's European franchise from the patent decision.” Raymond keeps a $180 price target on the stock, suggesting an upside potential of 64%.Phil Nadeau, of Cowen, also takes a bullish stand on ALXN. He writes, “We continue to think that much of ALXN’s C5-inhibitor franchise will be transferred to Ultomiris by the time the first biosimilar launches in the EU in ‘22/23 and therefore that Alexion’s franchise is defensible…” Nadeau’s $165 price target implies a 50% upside for the stock. Overall, ALXN shares keep a Strong Buy consensus rating, based on 9 buys and 1 hold. The $164 average price target indicates a 50% upside from the $109 share price. Global Blood Therapeutics, Inc. (GBT)Not every biotech has drugs on the market. Global Blood Therapeutics (GBT – Get Report) is a clinical-stage company focused on developing treatments for sickle cell disease, a severe genetic condition affecting as many as 100,000 Americans. Last week, the company announced that its Voxelotor program New Drug Application has been granted priority review status by the FDA and an important milestone in the approval process.Investors are impressed by GBT’s fast track with Voxelotor. The stock spiked 10.8% in the wake of the news, and remains elevated six days later. The priority review is a clear indication that the FDA sees potential for Voxelotor in addressing a serious public health concern. Regulator and investor confidence lie behind GBT’s 25% year-to-date gains.The Street’s analysts are equally bullish. It’s important to note that even their low-end price target of $60 is higher than the stock’s current share price. William Blair analyst Raju Prasad lays out the buying-side case in a research note: “We continue to believe the mechanism of action of Voxelotor and efficacy/ safety profile in sickle cell disease should lead Voxelotor to become a mainstay of treatment for patients and gives us confidence in its blockbuster potential, if approved. Our model assumes U.S. revenue of about $1.5 billion, EU revenue of roughly $310 million, and licensing revenue of about $15 million by 2027.” With high revenues on the near-term horizon, Prasad gives the stock firm Buy rating.Wainwright analyst Debjit Chattopadhyay set a $150 price target on the stock, saying, “We estimate approximately 70K patients in U.S., 42K patients in the $60K U.S. and EU launch prices, respectively, a 2020 commercial launch, 70% compliance, and 23% gross-to-net.” His target suggests an eye-opening upside potential of 192%.GBT’s Strong Buy consensus is based on 12 buy ratings and 1 hold from the past three months. The stock is currently selling for $51, and the average price target of $97 gives it an impressive 88% upside potential.Visit the Trending Stocks page, to see what stocks are hot now.
H.C. Wainwright & Co. analyst Andrew Fein reiterated a Buy rating on Acadia with a $60 price target. Acadia delivered another pleasant surprise for investors by way of a positive interim analysis from the Phase 3 HARMONY study, which showed pimavanserin's statistically superior efficacy compared to placebo in time to relapse of dementia-related psychosis, Fein said in a Tuesday note. The analyst sees the dementia-related psychosis opportunity alone as sufficient to fuel pimavanserin growth in the foreseeable future.
ACADIA Pharmaceuticals' (ACAD) Parkinson's psychosis drug, Nuplazid, meets primary endpoint earlier than expected in late-stage label expansion study evaluating it in patients with dementia-related psychosis.
The following is a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs on Sept. 9.) ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD ...
While the rest of the biotechnology sector remained depressed along with the broader markets, related exchange traded funds found strength from an unexpected surge in ACADIA Pharmaceuticals (NasdaqGS: ...
Shares of Acadia Pharmaceuticals rocketed Monday after the biotech company said its psychosis treatment met its key goal in a Phase 3 test. The drug already sells under the name Nuplazid.
Acadia, an actively traded mid-cap biotech, said Monday that it will stop the Phase 3 HARMONY study early based on the recommendation of the independent data monitoring committee that reviewed data from the planned interim analysis. The HARMONY study is evaluating pimavanserin for the treatment of dementia-related psychosis. Interim analysis of data showed the study met its primary endpoint by demonstrating a highly statistically significant longer time to the relapse of psychosis with pimavanserin compared to placebo.
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. ACADIA Pharmaceuticals (NASDAQ: ACAD ) shares ...
Acadia Pharmaceuticals rockets higher after it announces it has ended a phase 3 trial of its dementia-related psychosis treatment, pimavanserin, on better-than-expected results.
Shares of Acadia Pharmaceuticals Inc. rocketed 87% toward a 4-year high in premarket trading Monday, after the biopharmaceutical company said a phase 3 trial of its treatment for dementia-related psychosis met its primary endpoint. The company said pimavanserin achieved "robust statistical superiority" over placebo, with longer time to relapse of psychosis with pimavanserin compared with placebo. Acadia said the study will be stopped early based on the study's findings. The company plans to meet with the Food and Drug Administration regarding a supplemental new drug application (NDA) submission in 2020. The stock, on track to open at the highest price seen during regular-session hours since August 2015, has run up 47.2% year to date through Friday, while the iShares Nasdaq Biotechnology ETF has gained 6.0% and the S&P 500 has advanced 18.8%.
ACADIA Pharmaceuticals Inc. (ACAD) today announced that its Phase 3 HARMONY study, a double-blind, placebo-controlled relapse prevention trial evaluating pimavanserin for the treatment of dementia-related psychosis, met its primary endpoint, demonstrating a highly statistically significant longer time to relapse of psychosis with pimavanserin compared to placebo in a planned interim efficacy analysis.
ACADIA Pharmaceuticals Inc. , a biopharmaceutical company focused on the development and commercialization of innovative medicines that address unmet medical needs in central nervous system disorders, today announced that it will present at the Morgan Stanley 17th Annual Global Healthcare Conference on Wednesday, September 11, 2019 at 8:45 a.m.