ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Set at $24.00 by Morgan Stanley

ACADIA Pharmaceuticals (NASDAQ:ACAD) received a $24.00 price target from Morgan Stanley in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective suggests a potential upside of 11.37% from the stock’s previous close.

A number of other equities research analysts have also recently commented on ACAD. Mizuho raised their target price on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC upped their target price on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 16th. Finally, Robert W. Baird boosted their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.83.

ACADIA Pharmaceuticals Trading Down 1.4%

Shares of ACAD stock opened at $21.55 on Tuesday. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $25.23. The stock has a market cap of $3.61 billion, a P/E ratio of 27.63 and a beta of 0.47. The company has a 50 day simple moving average of $16.29 and a two-hundred day simple moving average of $17.27.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same period in the prior year, the business posted $0.10 EPS. ACADIA Pharmaceuticals’s revenue was up 18.7% on a year-over-year basis. As a group, equities analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Kihara sold 4,000 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the transaction, the insider now owns 20,395 shares in the company, valued at $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,994 shares of company stock valued at $453,131 over the last 90 days. 26.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. boosted its stake in shares of ACADIA Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 766 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of ACADIA Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after acquiring an additional 795 shares in the last quarter. Xponance Inc. grew its stake in ACADIA Pharmaceuticals by 14.1% in the first quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 1,434 shares in the last quarter. Federated Hermes Inc. increased its holdings in ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,618 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at $29,000. Institutional investors 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.