ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $41.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target boosted by Needham & Company LLC from $38.00 to $41.00 in a research report report published on Wednesday, Marketbeat reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus increased their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Morgan Stanley set a $27.00 price objective on ACADIA Pharmaceuticals in a report on Monday. Finally, HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $33.69.

ACADIA Pharmaceuticals Stock Down 0.5%

Shares of ACAD stock opened at $28.24 on Wednesday. The business has a fifty day simple moving average of $25.14 and a 200-day simple moving average of $23.35. The stock has a market cap of $4.87 billion, a P/E ratio of 12.72, a P/E/G ratio of 22.35 and a beta of 0.81. ACADIA Pharmaceuticals has a fifty-two week low of $19.69 and a fifty-two week high of $29.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Kihara sold 5,401 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,100 shares of company stock worth $1,134,287 over the last ninety days. 26.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 386 shares during the period. Meeder Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC increased its stake in shares of ACADIA Pharmaceuticals by 304.5% during 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 last quarter. Federated Hermes Inc. raised its position in shares of ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $52,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.