ACADIA Pharmaceuticals (NASDAQ:ACAD) Given Buy Rating at HC Wainwright

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $27.00 price objective on the biopharmaceutical company's stock. HC Wainwright's target price points to a potential upside of 55.17% from the company's previous close.

A number of other analysts also recently weighed in on the company. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday. UBS Group lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald lowered their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley downgraded ACADIA Pharmaceuticals from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.56.

ACADIA Pharmaceuticals Trading Up 10.2 %

NASDAQ:ACAD traded up $1.61 during mid-day trading on Thursday, hitting $17.40. The stock had a trading volume of 2,189,512 shares, compared to its average volume of 1,685,938. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59. The stock has a 50-day simple moving average of $15.41 and a two-hundred day simple moving average of $15.96. The company has a market capitalization of $2.89 billion, a PE ratio of 96.17 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.07. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Brendan Teehan sold 9,534 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brendan Teehan sold 9,534 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen Davis sold 31,747 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company's stock, valued at $2,850,560.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,014 shares of company stock valued at $779,494. Corporate insiders own 28.30% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC boosted its position in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 1,047 shares during the period. Natixis Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 58.6% in the third quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company's stock valued at $623,000 after acquiring an additional 14,961 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 26.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 37,429 shares of the biopharmaceutical company's stock valued at $576,000 after purchasing an additional 7,872 shares during the period. Victory Capital Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company's stock valued at $1,494,000 after purchasing an additional 2,708 shares in the last quarter. Finally, Atria Investments Inc grew its position in ACADIA Pharmaceuticals by 10.8% in the third quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company's stock worth $376,000 after buying an additional 2,384 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.