ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $39.00

by · The Cerbat Gem

ACADIA Pharmaceuticals (NASDAQ:ACAD – Free Report) had its target price lifted by UBS Group from $36.00 to $39.00 in a report released on Tuesday, MarketBeat reports. UBS Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on ACAD. Oppenheimer reissued a “market perform” rating and issued a $22.00 target price (up from $19.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. Citigroup reaffirmed an “outperform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald raised ACADIA Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $29.65.

View Our Latest Analysis on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Stock Up 1.7%

NASDAQ:ACAD opened at $24.20 on Tuesday. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $26.65. The company has a market capitalization of $4.08 billion, a P/E ratio of 18.20, a P/E/G ratio of 6.03 and a beta of 0.75. The stock’s fifty day moving average is $23.94 and its two-hundred day moving average is $20.29.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the sale, the director owned 25,382 shares in the company, valued at $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the sale, the executive vice president owned 40,130 shares in the company, valued at $1,010,473.40. This trade represents a 35.41% decrease in their position. The disclosure for this sale can be found here. 26.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in shares of ACADIA Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company’s stock worth $22,614,000 after acquiring an additional 106,236 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in ACADIA Pharmaceuticals by 15.8% in the fourth quarter. Ameriprise Financial Inc. now owns 884,870 shares of the biopharmaceutical company’s stock valued at $16,237,000 after acquiring an additional 120,996 shares during the period. BNP Paribas Financial Markets boosted its stake in ACADIA Pharmaceuticals by 29.0% in the fourth quarter. BNP Paribas Financial Markets now owns 288,471 shares of the biopharmaceutical company’s stock valued at $5,293,000 after acquiring an additional 64,853 shares during the period. Bank of America Corp DE boosted its stake in ACADIA Pharmaceuticals by 41.4% in the fourth quarter. Bank of America Corp DE now owns 680,853 shares of the biopharmaceutical company’s stock valued at $12,494,000 after acquiring an additional 199,504 shares during the period. Finally, Graham Capital Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $1,134,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

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.

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