ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Gap Up – Should You Buy?

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) gapped up before the market opened on Monday . The stock had previously closed at $23.99, but opened at $24.78. ACADIA Pharmaceuticals shares last traded at $24.4290, with a volume of 156,423 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group boosted their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. HC Wainwright restated a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.26.

ACADIA Pharmaceuticals Trading Up 1.4%

The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 8.42 and a beta of 0.66. The stock has a fifty day moving average price of $25.75 and a 200-day moving average price of $24.44.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals 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 completion of the sale, the executive vice president owned 7,609 shares in the company, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACAD. Farther Finance Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 386 shares during the last quarter. Cetera Investment Advisers increased its holdings in ACADIA Pharmaceuticals by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 436 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 2.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock worth $551,000 after buying an additional 501 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 512 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in ACADIA Pharmaceuticals by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 534 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

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.