ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report)’s share price gapped up prior to trading on Monday after Mizuho upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $24.07, but opened at $25.10. Mizuho now has a $35.00 price target on the stock, up from their previous price target of $20.00. ACADIA Pharmaceuticals shares last traded at $24.70, with a volume of 200,932 shares changing hands.
Other equities analysts have also recently issued research reports about the company. UBS Group initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, October 17th. They issued a “buy” rating and a $33.00 price target on the stock. Royal Bank of Canada raised their price target on ACADIA Pharmaceuticals from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity Group reduced their target price on ACADIA Pharmaceuticals from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Citigroup raised their target price on ACADIA Pharmaceuticals from $21.60 to $27.00 and gave the stock a “neutral” rating in a report on Friday, July 14th. Finally, Oppenheimer restated a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.67.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
Hedge funds and other institutional investors have recently bought and sold shares of the company. C M Bidwell & Associates Ltd. acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at approximately $30,000. Nemes Rush Group LLC acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $48,000. China Universal Asset Management Co. Ltd. increased its position in shares of ACADIA Pharmaceuticals by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 553 shares during the last quarter. CWM LLC increased its position in shares of ACADIA Pharmaceuticals by 7,783.3% during the 1st quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 169.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.
ACADIA Pharmaceuticals Stock Performance
The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -34.75 and a beta of 0.62. The company has a 50-day simple moving average of $23.93 and a two-hundred day simple moving average of $24.89.
About ACADIA Pharmaceuticals
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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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