Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $30.00 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “

Other equities research analysts also recently issued research reports about the stock. J P Morgan Chase & Co set a $50.00 price objective on shares of ACADIA Pharmaceuticals and gave the stock a buy rating in a report on Thursday, October 5th. Piper Jaffray Companies reissued a buy rating and issued a $61.00 price target (up from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. HC Wainwright reissued a buy rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reissued a buy rating and issued a $50.00 price target (up from $48.00) on shares of ACADIA Pharmaceuticals in a report on Monday, October 2nd. Finally, Needham & Company LLC reissued a buy rating and issued a $49.00 price target on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. ACADIA Pharmaceuticals has a consensus rating of Buy and a consensus price target of $47.44.

ACADIA Pharmaceuticals (NASDAQ:ACAD) traded up $0.80 during mid-day trading on Wednesday, reaching $27.64. 1,582,644 shares of the company traded hands, compared to its average volume of 1,680,759. ACADIA Pharmaceuticals has a 1-year low of $24.31 and a 1-year high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.10. The business had revenue of $35.58 million during the quarter, compared to the consensus estimate of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The company’s quarterly revenue was up 571.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.61) earnings per share. analysts forecast that ACADIA Pharmaceuticals will post -2.42 EPS for the current fiscal year.

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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 37,500 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $40.91, for a total transaction of $1,534,125.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 22.25% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ACAD. Teachers Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.2% in the 1st quarter. Teachers Advisors LLC now owns 125,022 shares of the biopharmaceutical company’s stock valued at $4,298,000 after purchasing an additional 2,722 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 138.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 2,548 shares during the period. Legal & General Group Plc increased its holdings in shares of ACADIA Pharmaceuticals by 173.5% in the 1st quarter. Legal & General Group Plc now owns 32,968 shares of the biopharmaceutical company’s stock valued at $1,133,000 after purchasing an additional 20,916 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ACADIA Pharmaceuticals by 2,500.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 198,620 shares of the biopharmaceutical company’s stock valued at $6,828,000 after purchasing an additional 190,981 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 5,422.8% in the 1st quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock valued at $186,791,000 after purchasing an additional 5,334,832 shares during the period. Institutional investors own 95.27% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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