ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $23.00

by · The Cerbat Gem

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) had its target price increased by Oppenheimer from $21.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target indicates a potential downside of 3.66% from the stock’s previous close.

Several other analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. UBS Group lifted their price objective on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Mizuho boosted their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Royal Bank Of Canada decreased their price target on ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.30.

View Our Latest Stock Report on ACAD

ACADIA Pharmaceuticals Stock Up 1.8%

ACAD traded up $0.42 on Friday, hitting $23.88. 683,576 shares of the company traded hands, compared to its average volume of 1,267,590. The company has a 50 day moving average of $26.50 and a 200-day moving average of $24.45. The stock has a market capitalization of $4.04 billion, a PE ratio of 15.40, a PEG ratio of 8.51 and a beta of 0.66. ACADIA Pharmaceuticals has a 12-month low of $13.40 and a 12-month high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The business had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $276.52 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts anticipate that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $243,106.78. Following the completion of the transaction, the executive vice president directly owned 53,338 shares in the company, valued at approximately $1,263,577.22. This trade represents a 16.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the sale, the director directly owned 4,041 shares in the company, valued at $90,397.17. This trade represents a 88.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 44,346 shares of company stock worth $1,010,957. 26.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Leonteq Securities AG acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $52,000. PSP Research LLC purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $528,000. Handelsbanken Fonder AB raised its stake in ACADIA Pharmaceuticals by 14.8% in the 4th quarter. Handelsbanken Fonder AB now owns 56,733 shares of the biopharmaceutical company’s stock valued at $1,515,000 after purchasing an additional 7,300 shares during the last quarter. Profund Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 67.9% in the 4th quarter. Profund Advisors LLC now owns 77,073 shares of the biopharmaceutical company’s stock valued at $2,059,000 after purchasing an additional 31,160 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of ACADIA Pharmaceuticals by 7.5% during the 4th quarter. ProShare Advisors LLC now owns 31,678 shares of the biopharmaceutical company’s stock worth $846,000 after purchasing an additional 2,215 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

(Get Free Report)

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.

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