BMO Capital Markets Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective increased by BMO Capital Markets from $34.00 to $36.00 in a research note published on Tuesday morning, Marketbeat.com reports. BMO Capital Markets currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on the company. Citigroup increased their price objective on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Stifel Nicolaus boosted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday. Weiss Ratings lowered shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Bank of America raised their price target on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada lifted their price target on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $33.17.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $25.43 on Tuesday. The stock’s 50 day moving average price is $23.05 and its 200 day moving average price is $23.27. The firm has a market cap of $4.35 billion, a P/E ratio of 11.56, a PEG ratio of 18.07 and a beta of 0.80. ACADIA Pharmaceuticals has a 1 year low of $19.69 and a 1 year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. During the same period in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts predict that ACADIA Pharmaceuticals will post 0.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider James Kihara sold 5,401 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the transaction, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the transaction, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This trade represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 10,239 shares of company stock valued at $219,813. Company insiders own 26.20% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares during the period. Federated Hermes Inc. grew its holdings in ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $52,000. Hedge funds and other 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.