ACADIA Pharmaceuticals (NASDAQ:ACAD) Lifted to “Strong-Buy” at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Other research analysts have also issued reports about the company. Cantor Fitzgerald decreased their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Citigroup decreased their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Up 2.3 %

ACAD opened at $16.32 on Friday. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $32.59. The business has a fifty day simple moving average of $16.90 and a 200-day simple moving average of $17.09. The firm has a market cap of $2.71 billion, a P/E ratio of -1,630.37, a P/E/G ratio of 0.53 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. ACADIA Pharmaceuticals’s revenue was up 46.4% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. Sell-side analysts expect that ACADIA Pharmaceuticals will post 0.52 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock worth $779,494 in the last quarter. Company insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ACAD. Covestor Ltd lifted its stake in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares in the last quarter. Quest Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $39,000. Headlands Technologies LLC purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at approximately $48,000. Stonepine Capital Management LLC purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $81,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $100,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.