ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Upgraded by Wall Street Zen

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

ACAD has been the topic of several other research reports. Morgan Stanley upped their price target on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, September 23rd. Canaccord Genuity Group raised their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 29th. TD Cowen reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 24th. Finally, Stifel Nicolaus upped their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.71.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $19.41 on Friday. The firm has a market cap of $3.34 billion, a PE ratio of 8.74 and a beta of 0.88. ACADIA Pharmaceuticals has a one year low of $19.32 and a one year high of $30.96. The stock’s 50 day simple moving average is $26.26 and its 200 day simple moving average is $24.10.

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, beating analysts’ consensus estimates of $0.07 by $0.11. The firm 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 was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. As a group, equities analysts expect that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the transaction, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 36,699 shares of company stock valued at $1,019,894. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in ACADIA Pharmaceuticals by 36.1% during the third quarter. GAMMA Investing LLC now owns 4,064 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 1,079 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 996.4% in the third quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company’s stock worth $182,000 after acquiring an additional 8,200 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter worth about $424,000. Cim Investment Management Inc. raised its position in shares of ACADIA Pharmaceuticals by 7.3% during the second quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock worth $386,000 after purchasing an additional 1,034 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth about $597,000. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.