ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Increased to Strong-Buy at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

A number of other equities analysts have also recently commented on ACAD. Bank of America cut their target price on shares of ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. HC Wainwright cut their target price on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Citigroup dropped their price objective on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Stifel Nicolaus dropped their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Finally, Morgan Stanley dropped their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.59.

ACADIA Pharmaceuticals Trading Up 0.7 %

ACAD stock opened at $17.77 on Thursday. ACADIA Pharmaceuticals has a twelve month low of $14.55 and a twelve month high of $33.99. The company’s 50 day moving average is $15.59 and its two-hundred day moving average is $20.50. The stock has a market cap of $2.94 billion, a P/E ratio of -1,775.22 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company’s quarterly revenue was up 73.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) EPS. On average, equities research analysts predict that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the sale, the chief financial officer now owns 32,053 shares in the company, valued at $542,977.82. The disclosure for this sale can be found here. Insiders have sold 20,708 shares of company stock worth $348,697 in the last three months. Corporate insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACAD. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $45,187,000. Eventide Asset Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $25,342,000. M&G Investment Management Ltd. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $10,349,000. M&G Plc purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $5,622,000. Finally, WCM Investment Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $5,215,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.