ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price lifted by Needham & Company LLC from $34.00 to $60.00 in a research report released on Monday morning, The Fly reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the company. Raymond James boosted their price objective on ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the company a strong-buy rating in a research report on Friday, May 31st. BidaskClub cut ACADIA Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, September 5th. Bank of America set a $31.00 target price on ACADIA Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, July 31st. HC Wainwright reissued a buy rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company a hold rating in a research note on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $43.31.

Shares of ACAD stock opened at $41.15 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.79 and a current ratio of 6.85. ACADIA Pharmaceuticals has a fifty-two week low of $13.19 and a fifty-two week high of $43.98. The stock has a 50 day moving average price of $28.11 and a two-hundred day moving average price of $26.40. The company has a market capitalization of $5.61 billion, a P/E ratio of -21.21 and a beta of 2.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The firm had revenue of $83.21 million during the quarter, compared to the consensus estimate of $72.50 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The business’s revenue was up 45.8% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals will post -1.77 earnings per share for the current year.

In related news, insider Eric Alejandro Miller sold 4,645 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $41.18, for a total value of $191,281.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the completion of the sale, the director now directly owns 30,000 shares in the company, valued at $1,134,000. The disclosure for this sale can be found here. Insiders have sold 63,112 shares of company stock worth $2,449,443 over the last three months. Insiders own 29.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Orbimed Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at $2,724,000. University of Notre Dame DU Lac lifted its holdings in ACADIA Pharmaceuticals by 22.6% in the second quarter. University of Notre Dame DU Lac now owns 144,318 shares of the biopharmaceutical company’s stock valued at $3,858,000 after acquiring an additional 26,565 shares during the period. Pictet Asset Management Ltd. lifted its holdings in ACADIA Pharmaceuticals by 26.3% in the second quarter. Pictet Asset Management Ltd. now owns 358,500 shares of the biopharmaceutical company’s stock valued at $9,583,000 after acquiring an additional 74,700 shares during the period. Nuveen Asset Management LLC bought a new position in ACADIA Pharmaceuticals in the second quarter valued at about $42,444,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in ACADIA Pharmaceuticals by 2.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock valued at $201,475,000 after acquiring an additional 179,737 shares during the period. 97.38% of the stock is currently owned by institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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