ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price upped by analysts at JPMorgan Chase & Co. from $31.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 51.79% from the company’s previous close.

Several other research analysts have also weighed in on the stock. UBS Group raised their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Stifel Nicolaus cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. TD Cowen lifted their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Citizens Jmp boosted their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.21.

ACADIA Pharmaceuticals Stock Down 4.2%

Shares of ACAD opened at $22.40 on Wednesday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 19.75 and a beta of 0.66. The business’s 50 day moving average is $25.12 and its two-hundred day moving average is $24.38. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. The business had revenue of $298.00 million during the quarter, compared to the consensus estimate of $292.54 million. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. On average, equities analysts expect that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the transaction, the executive vice president directly owned 7,609 shares in the company, valued at $177,898.42. The trade was a 47.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 26.50% of the stock is owned by corporate insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Cetera Investment Advisers lifted its position in shares of ACADIA Pharmaceuticals by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 436 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of ACADIA Pharmaceuticals by 2.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock worth $551,000 after purchasing an additional 501 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in ACADIA Pharmaceuticals by 4.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 512 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in ACADIA Pharmaceuticals by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 534 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.