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

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

Several other research firms have also commented on ACAD. Morgan Stanley reduced their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating on the stock in a research report on Wednesday, March 13th. Royal Bank of Canada reaffirmed an outperform rating and issued a $29.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, June 25th. JPMorgan Chase & Co. cut their price objective on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating for the company in a research report on Monday, March 25th. Robert W. Baird decreased their target price on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Finally, Mizuho lowered their target price on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a neutral rating for the company in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $28.59.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $17.77 on Thursday. ACADIA Pharmaceuticals has a one year low of $14.55 and a one year high of $33.99. The stock has a market cap of $2.94 billion, a PE ratio of -1,777.00 and a beta of 0.38. The stock has a 50 day moving average price of $15.59 and a 200 day moving average price of $20.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The business had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. During the same period last year, the company earned ($0.27) EPS. The company’s revenue for the quarter was up 73.8% on a year-over-year basis. As a group, analysts predict that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 3,477 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $58,900.38. Following the sale, the chief operating officer now owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the transaction, the chief executive officer now owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brendan Teehan sold 3,477 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the completion of the sale, the chief operating officer now owns 42,133 shares in the company, valued at $713,733.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,708 shares of company stock worth $348,697. Company insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of ACADIA Pharmaceuticals by 17.1% during the 2nd quarter. SG Americas Securities LLC now owns 99,476 shares of the biopharmaceutical company’s stock worth $1,616,000 after acquiring an additional 14,520 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in ACADIA Pharmaceuticals by 93.3% during the second quarter. Wesbanco Bank Inc. now owns 51,800 shares of the biopharmaceutical company’s stock worth $842,000 after purchasing an additional 25,000 shares during the last quarter. DNB Asset Management AS acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at approximately $165,000. DekaBank Deutsche Girozentrale increased its stake in ACADIA Pharmaceuticals by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 97,284 shares of the biopharmaceutical company’s stock valued at $1,745,000 after purchasing an additional 2,731 shares during the last quarter. Finally, Verity Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals during the first quarter worth approximately $216,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.