ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) in a report released on Thursday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on the stock. Oppenheimer lifted their price objective on shares of ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, March 1st. HC Wainwright lifted their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup lifted their price objective on shares of ACADIA Pharmaceuticals from $19.40 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of ACADIA Pharmaceuticals from $10.00 to $15.00 in a research note on Tuesday. Finally, Cantor Fitzgerald lifted their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.44.

ACADIA Pharmaceuticals Trading Down 2.6 %

NASDAQ ACAD opened at $19.85 on Thursday. ACADIA Pharmaceuticals has a 1-year low of $12.24 and a 1-year high of $28.06. The company has a 50 day moving average of $19.08 and a 200-day moving average of $17.09. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -14.81 and a beta of 0.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last released its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $136.49 million during the quarter, compared to analyst estimates of $135.18 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that ACADIA Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 3,851 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $18.78, for a total value of $72,321.78. Following the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at $1,722,633.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Laura Brege sold 12,500 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $18.25, for a total value of $228,125.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen Davis sold 3,851 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the completion of the transaction, the chief executive officer now owns 91,727 shares in the company, valued at approximately $1,722,633.06. The disclosure for this sale can be found here. Insiders have sold a total of 23,567 shares of company stock valued at $427,672 over the last 90 days. 28.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ACAD. Raymond James Financial Services Advisors Inc. acquired a new position in ACADIA Pharmaceuticals in the first quarter valued at $572,000. HighTower Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $1,077,000. MetLife Investment Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 54.0% during the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock valued at $1,607,000 after purchasing an additional 23,265 shares during the period. Rhumbline Advisers raised its holdings in shares of ACADIA Pharmaceuticals by 3.9% during the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after purchasing an additional 5,011 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $1,380,000. Institutional investors and hedge funds own 92.79% of the company’s stock.

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.