UBS Group Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target boosted by UBS Group from $36.00 to $39.00 in a research note released on Tuesday, MarketBeat.com reports. UBS Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Bank of America lifted 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. The Goldman Sachs Group lifted their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $35.00 in a research report on Wednesday, May 21st. Mizuho raised 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, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.06.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $24.84 on Tuesday. The company’s 50 day moving average price is $23.82 and its 200 day moving average price is $20.23. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 6.43 and a beta of 0.75. ACADIA Pharmaceuticals has a fifty-two week low of $13.40 and a fifty-two week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The company had revenue of $264.57 million during the quarter, compared to the consensus estimate of $263.07 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 22,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares of the company’s stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the completion of the sale, the director directly owned 25,382 shares of the company’s stock, valued at $659,424.36. The trade was a 5.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of ACADIA Pharmaceuticals by 645.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company’s stock worth $5,065,000 after buying an additional 268,714 shares during the period. GAMMA Investing LLC raised its stake in ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 3,030 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $247,000. Comerica Bank grew its stake in shares of ACADIA Pharmaceuticals by 4,770.1% in the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock valued at $716,000 after purchasing an additional 42,215 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of ACADIA Pharmaceuticals by 757.7% in the 1st quarter. Amalgamated Bank now owns 35,002 shares of the biopharmaceutical company’s stock valued at $581,000 after purchasing an additional 30,921 shares during the last quarter. 96.71% of the stock is currently 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.