ACADIA Pharmaceuticals (NASDAQ:ACAD) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $32.00 target price on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the company. BMO Capital Markets boosted their price objective on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Friday, May 16th. Morgan Stanley set a $24.00 price objective on shares of ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a report on Tuesday, May 20th. Finally, Robert W. Baird boosted their target price on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

ACADIA Pharmaceuticals Stock Down 1.3%

Shares of ACAD stock opened at $22.21 on Thursday. The firm has a 50 day moving average of $19.45 and a two-hundred day moving average of $18.19. The stock has a market capitalization of $3.72 billion, a PE ratio of 16.21, a P/E/G ratio of 4.80 and a beta of 0.65. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The business had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts expect that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Laura Brege sold 14,446 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director now directly owns 15,095 shares of the company’s stock, valued at approximately $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,000 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 20,395 shares of the company’s stock, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,007 shares of company stock valued at $580,446. 26.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at approximately $29,000. Banque Transatlantique SA acquired a new position in ACADIA Pharmaceuticals during the first quarter worth $31,000. Picton Mahoney Asset Management acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at about $32,000. 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 valued at $38,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth $39,000. Hedge funds and other 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.