Needham & Company LLC Forecasts Strong Price Appreciation for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price increased by Needham & Company LLC from $28.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 29.87% from the company’s current price.

Several other equities analysts have also recently weighed in on ACAD. Weiss Ratings restated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research note on Tuesday, October 14th. Cowen restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. TD Cowen raised their price objective on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. The Goldman Sachs Group raised their price objective on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a “sell” rating in a research note on Thursday, August 7th. Finally, UBS Group raised their price objective on ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.39.

ACADIA Pharmaceuticals Stock Up 2.2%

Shares of ACAD stock opened at $22.33 on Thursday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 7.90 and a beta of 0.80. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $26.65. The firm has a 50 day moving average of $22.78 and a 200-day moving average of $21.84.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data 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 net margin of 21.80% and a return on equity of 14.69%. The company had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 1,600 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the sale, the director directly owned 25,382 shares in the company, valued at $659,424.36. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $23.65, for a total value of $82,727.70. Following the sale, the executive vice president directly owned 43,447 shares of the company’s stock, valued at approximately $1,027,521.55. This trade represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,098 shares of company stock valued at $678,256. Company insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 756 shares during the period. Banque Transatlantique SA bought a new position in ACADIA Pharmaceuticals in the first quarter worth $31,000. Picton Mahoney Asset Management bought a new position in ACADIA Pharmaceuticals in the first quarter worth $32,000. Smartleaf Asset Management LLC raised its holdings in ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 885 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in ACADIA Pharmaceuticals by 231.5% in the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,618 shares in the last quarter. 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.