ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Increased to $25.00 by Analysts at Guggenheim

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price target hoisted by Guggenheim from $22.00 to $25.00 in a research report sent to investors on Tuesday, The Fly reports.

Several other brokerages have also weighed in on ACAD. JMP Securities reduced their price objective on ACADIA Pharmaceuticals from $24.00 to $22.00 and set a market perform rating for the company in a report on Tuesday, February 28th. Oppenheimer increased their price objective on ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a market perform rating in a report on Wednesday, March 1st. Citigroup increased their target price on ACADIA Pharmaceuticals from $19.40 to $21.00 in a research report on Tuesday. Morgan Stanley increased their target price on ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the stock an equal weight rating in a research report on Tuesday, February 28th. Finally, HC Wainwright increased their target price on ACADIA Pharmaceuticals from $25.00 to $28.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $21.67.

ACADIA Pharmaceuticals Stock Up 5.0 %

ACAD stock opened at $20.38 on Tuesday. The firm has a market cap of $3.31 billion, a PE ratio of -14.49 and a beta of 0.59. The business has a 50 day moving average of $19.00 and a 200-day moving average of $17.06. ACADIA Pharmaceuticals has a 12-month low of $12.24 and a 12-month high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). ACADIA Pharmaceuticals had a negative net margin of 41.76% and a negative return on equity of 50.65%. The firm had revenue of $136.49 million for the quarter, compared to the consensus estimate of $135.18 million. During the same period last year, the company posted ($0.27) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts expect that ACADIA Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,904 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $17.13, for a total transaction of $66,875.52. Following the sale, the chief executive officer now owns 84,633 shares in the company, valued at $1,449,763.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ACADIA Pharmaceuticals news, Director Laura Brege sold 12,500 shares of the firm’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 3,904 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $17.13, for a total value of $66,875.52. Following the sale, the chief executive officer now owns 84,633 shares in the company, valued at approximately $1,449,763.29. The disclosure for this sale can be found here. Insiders have sold 23,567 shares of company stock worth $427,672 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ACAD. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $31,110,000. State Street Corp grew its stake in shares of ACADIA Pharmaceuticals by 30.4% during the second quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock valued at $92,909,000 after buying an additional 1,536,756 shares during the last quarter. Braidwell LP bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $23,770,000. Point72 Asset Management L.P. bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $17,765,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at about $17,775,000. 92.79% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.