ACADIA Pharmaceuticals (NASDAQ:ACAD) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report released on Thursday,Benzinga reports. JMP Securities currently has a $37.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on ACAD. UBS Group lowered their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. upped their price target on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Bank of America increased their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, June 5th. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday. Finally, Mizuho upped 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, May 19th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.88.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $22.21 on Thursday. The firm’s fifty day moving average is $19.45 and its two-hundred day moving average is $18.19. The firm has a market cap of $3.72 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 4.80 and a beta of 0.65. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $25.23.

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

Insider Activity

In other news, Director Laura Brege sold 14,446 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the sale, the director now owns 15,095 shares in the company, valued at $328,769.10. This represents a 48.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 2,000 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president now directly owns 62,130 shares of the company’s stock, valued at $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,007 shares of company stock worth $580,446 in the last quarter. Corporate insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACAD. Voya Investment Management LLC lifted its stake in ACADIA Pharmaceuticals by 70.3% in the 1st quarter. Voya Investment Management LLC now owns 61,585 shares of the biopharmaceutical company’s stock valued at $1,023,000 after purchasing an additional 25,418 shares during the last quarter. Rhumbline Advisers raised its stake in ACADIA Pharmaceuticals by 100.9% in the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock valued at $5,859,000 after buying an additional 177,188 shares during the period. Strs Ohio bought a new stake in ACADIA Pharmaceuticals in the first quarter valued at approximately $796,000. Intech Investment Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 45.6% in the first quarter. Intech Investment Management LLC now owns 75,872 shares of the biopharmaceutical company’s stock valued at $1,260,000 after buying an additional 23,766 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ACADIA Pharmaceuticals by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock worth $4,170,000 after acquiring an additional 31,931 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.