ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives "Equal Weight" Rating from Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD - Free Report) in a research report report published on Friday,Benzinga reports. They currently have a $20.00 price target on the biopharmaceutical company's stock.

A number of other research firms have also issued reports on ACAD. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com cut ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.00.

Remove Ads

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD remained flat at $17.19 during midday trading on Friday. 1,557,591 shares of the stock traded hands, compared to its average volume of 2,607,165. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 22.04 and a beta of 0.43. The company's 50-day moving average price is $18.51 and its two-hundred day moving average price is $16.95. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $20.68.

Insiders Place Their Bets

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 6,167 shares of company stock worth $114,583. Company insiders own 28.30% of the company's stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its stake in shares of ACADIA Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after purchasing an additional 795 shares during the period. Quest Partners LLC grew its position in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 1,047 shares during the period. Arete Wealth Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock valued at $251,000 after buying an additional 1,875 shares in the last quarter. KBC Group NV lifted its position in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $39,000. 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.