ACADIA Pharmaceuticals’ (ACAD) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp reiterated their market outperform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report released on Tuesday morning,Benzinga reports. Citizens Jmp currently has a $34.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also weighed in on ACAD. Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Stifel Nicolaus set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Citigroup increased their target price on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

ACADIA Pharmaceuticals Stock Down 3.2%

Shares of ACAD opened at $23.46 on Tuesday. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 8.51 and a beta of 0.66. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $28.35. The stock’s 50-day moving average price is $26.50 and its 200-day moving average price is $24.45.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The company had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. During the same period in the previous year, the company posted $0.20 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the transaction, the director owned 4,041 shares in the company, valued at $90,397.17. This represents a 88.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $243,106.78. Following the completion of the transaction, the executive vice president directly owned 53,338 shares in the company, valued at $1,263,577.22. This represents a 16.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,346 shares of company stock valued at $1,010,957 over the last 90 days. Corporate insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 386 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 756 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares during the last quarter. USA Financial Formulas purchased a new position in shares of ACADIA Pharmaceuticals in the third quarter worth about $41,000. Finally, GAMMA Investing LLC boosted its position in ACADIA Pharmaceuticals by 25.8% during the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 690 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.