ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 12-Month High on Analyst Upgrade

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating)’s share price reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $23.00 to $26.00. The company traded as high as $24.58 and last traded at $24.20, with a volume of 142426 shares traded. The stock had previously closed at $24.31.

A number of other equities analysts also recently commented on the stock. Guggenheim upped their target price on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 in a research note on Tuesday, March 14th. Morgan Stanley upped their target price on shares of ACADIA Pharmaceuticals from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 14th. JMP Securities upped their target price on shares of ACADIA Pharmaceuticals from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 9th. HC Wainwright upped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Finally, Citigroup upped their target price on shares of ACADIA Pharmaceuticals from $21.00 to $21.60 in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.43.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 14,869 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $22.50, for a total value of $334,552.50. Following the completion of the transaction, the chief operating officer now owns 24,356 shares of the company’s stock, valued at $548,010. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider James Kihara sold 5,947 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $22.50, for a total transaction of $133,807.50. Following the completion of the transaction, the insider now owns 11,144 shares of the company’s stock, valued at $250,740. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brendan Teehan sold 14,869 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $22.50, for a total transaction of $334,552.50. Following the transaction, the chief operating officer now directly owns 24,356 shares of the company’s stock, valued at approximately $548,010. The disclosure for this sale can be found here. Insiders sold 66,368 shares of company stock valued at $1,393,764 over the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. C M Bidwell & Associates Ltd. acquired a new stake in ACADIA Pharmaceuticals during the first quarter valued at $30,000. IFP Advisors Inc grew its position in ACADIA Pharmaceuticals by 284.6% during the third quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,500 shares during the period. China Universal Asset Management Co. Ltd. grew its position in ACADIA Pharmaceuticals by 33.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 553 shares during the period. CWM LLC grew its position in ACADIA Pharmaceuticals by 7,783.3% during the first quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 2,335 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in ACADIA Pharmaceuticals by 169.0% during the first quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 1,960 shares during the period. Hedge funds and other institutional investors own 92.79% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 2.0 %

The company’s 50-day moving average price is $20.15 and its 200-day moving average price is $18.31. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -27.25 and a beta of 0.54.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The company had revenue of $118.46 million during the quarter, compared to analyst estimates of $120.29 million. ACADIA Pharmaceuticals had a negative net margin of 28.05% and a negative return on equity of 35.70%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.70) EPS. Analysts predict that ACADIA Pharmaceuticals Inc. will post -0.57 earnings per share for the current fiscal year.

About ACADIA Pharmaceuticals

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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.