ACADIA Pharmaceuticals (NASDAQ:ACAD) Given Market Perform Rating at Oppenheimer

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “market perform” rating reiterated by research analysts at Oppenheimer in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $19.00 price objective on the biopharmaceutical company’s stock. Oppenheimer’s target price suggests a potential upside of 11.44% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price target on the stock. Mizuho cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $39.00 to $25.00 in a research note on Tuesday, March 12th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. JMP Securities restated a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $31.75.

ACADIA Pharmaceuticals Trading Down 0.2 %

Shares of ACAD opened at $17.05 on Monday. ACADIA Pharmaceuticals has a 12 month low of $16.16 and a 12 month high of $33.99. The firm has a market cap of $2.82 billion, a P/E ratio of -44.87 and a beta of 0.42. The stock’s 50 day moving average is $19.15 and its two-hundred day moving average is $23.33.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was up 69.3% on a year-over-year basis. Equities research analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Buying and Selling

In other news, insider James Kihara sold 1,790 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the transaction, the insider now owns 13,100 shares in the company, valued at $234,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now owns 32,053 shares in the company, valued at $542,977.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the sale, the insider now directly owns 13,100 shares in the company, valued at approximately $234,097. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,116 shares of company stock valued at $1,625,639. 27.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP increased its position in ACADIA Pharmaceuticals by 730.9% during the 1st quarter. GSA Capital Partners LLP now owns 111,394 shares of the biopharmaceutical company’s stock worth $2,060,000 after purchasing an additional 97,987 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in ACADIA Pharmaceuticals during the 1st quarter worth about $211,000. Privium Fund Management B.V. bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $2,744,000. China Universal Asset Management Co. Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 66.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,654 shares of the biopharmaceutical company’s stock worth $585,000 after purchasing an additional 12,669 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in ACADIA Pharmaceuticals in the first quarter valued at approximately $5,215,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.