ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $17.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price boosted by The Goldman Sachs Group from $15.00 to $17.00 in a report published on Thursday,Benzinga reports. They currently have a sell rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. Mizuho upped their target price on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday. JMP Securities increased their target price on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, Citigroup reissued an “outperform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.88.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $24.60 on Thursday. ACADIA Pharmaceuticals has a 1-year low of $13.40 and a 1-year high of $25.23. The firm has a market capitalization of $4.12 billion, a P/E ratio of 18.50, a P/E/G ratio of 7.00 and a beta of 0.70. The business’s 50-day simple moving average is $22.38 and its 200-day simple moving average is $19.27.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. ACADIA Pharmaceuticals’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. On average, equities research analysts expect that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the transaction, the insider owned 20,395 shares in the company, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Brege sold 14,446 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, the director directly owned 15,095 shares in the company, valued at approximately $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,446 shares of company stock worth $454,634 over the last quarter. 26.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACAD. Exchange Traded Concepts LLC acquired a new stake in ACADIA Pharmaceuticals during the first quarter worth about $29,000. Picton Mahoney Asset Management bought a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $32,000. Banque Transatlantique SA acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $31,000. Virtus Fund Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. Finally, Federated Hermes Inc. boosted its position 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 purchasing an additional 1,618 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

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 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.