ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Gap Up to $39.14

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) gapped up prior to trading on Friday . The stock had previously closed at $38.16, but opened at $39.14. ACADIA Pharmaceuticals shares last traded at $40.45, with a volume of 1,759,406 shares changing hands.

Several analysts have issued reports on ACAD shares. BidaskClub downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Svb Leerink raised shares of ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $50.00 in a research note on Friday. Piper Jaffray Companies boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday. ValuEngine raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC boosted their target price on shares of ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. ACADIA Pharmaceuticals presently has an average rating of “Buy” and an average target price of $45.86.

The firm’s fifty day moving average price is $28.44 and its 200 day moving average price is $26.49. The company has a current ratio of 6.85, a quick ratio of 6.79 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.96 billion, a PE ratio of -20.85 and a beta of 2.75.



ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The business had revenue of $83.21 million for the quarter, compared to analysts’ expectations of $72.50 million. During the same period in the previous year, the company posted ($0.51) EPS. ACADIA Pharmaceuticals’s revenue was up 45.8% on a year-over-year basis. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.87 EPS for the current year.

In other news, insider Eric Alejandro Miller sold 4,645 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $41.18, for a total transaction of $191,281.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $37.80, for a total transaction of $1,134,000.00. Following the transaction, the director now owns 30,000 shares in the company, valued at $1,134,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,112 shares of company stock worth $2,449,443. 29.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC bought a new stake in ACADIA Pharmaceuticals in the first quarter worth $27,000. Twin Tree Management LP bought a new stake in ACADIA Pharmaceuticals in the first quarter worth $29,000. Steward Partners Investment Advisory LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter worth $42,000. Quantamental Technologies LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter worth $57,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in ACADIA Pharmaceuticals by 5.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 60,327 shares of the biopharmaceutical company’s stock worth $1,613,000 after purchasing an additional 2,930 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

About ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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