ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded at StockNews.com

StockNews.com upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research note issued to investors on Saturday.

ACAD has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Down 2.1 %

Shares of NASDAQ ACAD opened at $17.19 on Friday. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $24.27. The firm has a fifty day moving average of $18.50 and a 200-day moving average of $16.94. The stock has a market capitalization of $2.87 billion, a PE ratio of 22.04 and a beta of 0.43.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. This trade represents a 21.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,167 shares of company stock valued at $114,583 in the last 90 days. 28.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. R Squared Ltd bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $47,000. Quest Partners LLC increased its stake in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $64,000. Finally, KBC Group NV lifted its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.