ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $31.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 45.49% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ACAD. Stifel Nicolaus cut their price target on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Citizens Jmp lifted their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday, February 6th. Royal Bank Of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.21.

ACADIA Pharmaceuticals Trading Up 3.9%

NASDAQ:ACAD traded up $0.87 during trading hours on Wednesday, reaching $23.37. 980,645 shares of the company traded hands, compared to its average volume of 1,534,323. The business’s 50-day moving average price is $25.32 and its two-hundred day moving average price is $24.40. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $28.35. The stock has a market capitalization of $3.98 billion, a P/E ratio of 10.21, a P/E/G ratio of 18.95 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.12 by $1.48. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $292.54 million. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. ACADIA Pharmaceuticals’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. As a group, equities analysts anticipate that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. This trade represents a 47.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 28.30% of the stock is currently owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in shares of 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 period. Meeder Asset Management Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC raised its holdings in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,005 shares during the period. Geneos Wealth Management Inc. boosted its position in 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 purchasing an additional 756 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,185 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.