The pharmaceutical industry is important not only for our healthcare system but also for the economy. This industry not only caters to current demands but also is constantly on the hunt for new medicines and therapies that will better serve mankind. With many types of diseases present around us and many more that remain undiscovered, it is important for this industry to focus on research and development of new product lines alongside marketing and sales of existing products. If it weren’t for the constant efforts of doctors and scientists, this industry would’ve never grown to the extent it has today, and it continues to grow day by day.
Investing in this industry can be risky. The success of the company’s product solely depends on clinical trials. If the trials are successful, the company can expect profits. But if the trials fail for any reason, the company is set back for more time, thereby reducing profit prospects. When investing in stocks of pharmaceuticals or biotech, investors must be prepared to bear the risk. Although biotech stocks can be very risky, it can be very rewarding when programs turn out to be successful.
One of the many companies in the pharmaceutical industry is Acadia Pharmaceuticals Inc. It is a biopharmaceutical company that focuses on the development and commercialization of small molecule drugs that are meant for unmet medical needs in the central nervous system. The company offers a product called NUPLAZID (pimavanserin) for treating hallucinations and delusions associated with Parkinson’s disease. It is also developing a treatment for dementia-related psychosis using pimavanserin and as an adjunct treatment for schizophrenia. Pimavanserin is being developed for treating a major depressive disorder by the same company.
Acadia Pharmaceuticals was founded in 1993, having headquarters in San Diego, California. The CEO and director of this company are Mr. Stephen R. Davis. The stocks of Acadia Pharmaceuticals are listed on Nasdaq with the symbol ‘ACAD’. It is known as NASDAQ: ACAD in the stock market. The NASDAQ: ACADat https://www.webull.com/quote/nasdaq-acad stock has received an overall rating of ‘buy’, with 15 ‘buy’ ratings, 1 ‘hold’ rating, and no ‘Sell’ ratings. This indicates that the stock has growth potential in the future. Analysts have set an upside price target of $57, expecting a potential growth in price by 29.8{f39c194972c2b204e2fb8328e62c13069bca04df111fba5be42d8b209ae626ca}. The company currently has a market cap of $6.80 billion.
In view of the current situation, the stock is currently trading at $43.40. Before the pandemic was declared, NASDAQ: ACAD stock was traded for $36.87. The company has reported earnings of $90.07 million, whereas analysts had estimated it to be $90.76 million. You can do stock trading online after checking more stock news. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.
