ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other research firms have also weighed in on ACAD. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "hold" rating and a $22.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday. Finally, Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD remained flat at $17.19 during trading hours on Friday. 1,557,591 shares of the company were exchanged, compared to its average volume of 2,607,165. The firm's 50-day moving average price is $18.50 and its 200-day moving average price is $16.94. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $20.68. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 22.04 and a beta of 0.43.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares of the company's stock, valued at $320,756.85. This represents a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 6,167 shares of company stock worth $114,583. Insiders own 28.30% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ACAD. Virtus Fund Advisers LLC bought a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $39,000. R Squared Ltd bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth $47,000. Quest Partners LLC raised its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 1,047 shares during the period. GF Fund Management CO. LTD. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $64,000. Finally, KBC Group NV grew its holdings in ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 2,044 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

About ACADIA Pharmaceuticals

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.