ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns Buy Rating from HC Wainwright

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $27.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 70.99% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada reduced their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup lowered their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Trading Up 5.3 %

NASDAQ:ACAD opened at $15.79 on Thursday. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59. The company has a market cap of $2.62 billion, a PE ratio of 87.72 and a beta of 0.38. The company’s 50 day moving average is $15.41 and its two-hundred day moving average is $15.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same period in the prior year, the firm earned $0.01 EPS. The firm’s revenue was up 46.4% on a year-over-year basis. As a group, analysts expect that ACADIA Pharmaceuticals will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the sale, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,014 shares of company stock worth $779,494. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACAD. Park Place Capital Corp acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at $27,000. Covestor Ltd increased its stake in shares of ACADIA Pharmaceuticals by 70.5% in 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 during the last quarter. Headlands Technologies LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth $48,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $81,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.