ACADIA Pharmaceuticals’ (ACAD) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $29.00 target price on the biopharmaceutical company’s stock.

ACAD has been the topic of a number of other research reports. TheStreet upgraded shares of ACADIA Pharmaceuticals from a d rating to a c rating in a research report on Tuesday, February 27th. Robert W. Baird cut their target price on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Oppenheimer reiterated a market perform rating and issued a $19.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. JPMorgan Chase & Co. cut their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a report on Monday, March 25th. Finally, Morgan Stanley decreased their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating for the company in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $28.71.

ACADIA Pharmaceuticals Stock Down 0.7 %

Shares of ACADIA Pharmaceuticals stock opened at $16.25 on Tuesday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -1,623.38 and a beta of 0.40. ACADIA Pharmaceuticals has a twelve month low of $14.55 and a twelve month high of $33.99. The company’s fifty day moving average is $15.65 and its 200 day moving average is $21.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million during the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The business’s quarterly revenue was up 73.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. As a group, equities analysts anticipate that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the sale, the chief financial officer now directly owns 32,053 shares in the company, valued at $542,977.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the sale, the chief financial officer now owns 32,053 shares of the company’s stock, valued at $542,977.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 26,574 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the transaction, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at $2,578,051.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,356 shares of company stock worth $949,987. 28.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. Covestor Ltd grew its position in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Quest Partners LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $39,000. Headlands Technologies LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $48,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $100,000. Finally, Shell Asset Management Co. increased its position in shares of ACADIA Pharmaceuticals by 65.7% in the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,909 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.