BMO Capital Markets Initiates Coverage on ACADIA Pharmaceuticals (NASDAQ:ACAD)

Stock analysts at BMO Capital Markets initiated coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $31.00 price target on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective points to a potential upside of 90.77% from the company’s current price.

Other analysts also recently issued reports about the company. Robert W. Baird decreased their target price on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Mizuho decreased their target price on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. HC Wainwright decreased their target price on ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Finally, Stifel Nicolaus decreased their target price on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.71.

ACADIA Pharmaceuticals Stock Down 0.7 %

NASDAQ ACAD opened at $16.25 on Thursday. The company has a fifty day moving average of $15.65 and a two-hundred day moving average of $21.35. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -1,623.38 and a beta of 0.40. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million during the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. ACADIA Pharmaceuticals’s quarterly revenue was up 73.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.27) earnings per share. Equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.58 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at approximately $542,977.82. The sale was disclosed in a filing with the SEC, which is available at this link. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the company’s stock in a transaction on Monday, April 8th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the sale, the chief financial officer now owns 32,053 shares of the company’s stock, valued at $542,977.82. The disclosure for this sale can be found here. Insiders sold a total of 54,356 shares of company stock valued at $949,987 in the last three months. 28.30% of the stock is currently owned by company insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth $39,000. Covestor Ltd lifted its stake in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares in the last quarter. Headlands Technologies LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth about $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth about $100,000. Finally, Legato Capital Management LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth about $206,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.