ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 1-Year High – Time to Buy?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares hit a new 52-week high on Thursday . The stock traded as high as $26.76 and last traded at $26.55, with a volume of 1810325 shares changing hands. The stock had previously closed at $25.88.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen upped their target price on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Citigroup initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 21st. They set a “buy” rating and a $33.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 1st. Needham & Company LLC lifted their price objective on ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $28.89.

ACADIA Pharmaceuticals Stock Up 3.4%

The company has a fifty day moving average price of $22.71 and a 200 day moving average price of $23.04. The stock has a market cap of $4.64 billion, a PE ratio of 17.70, a P/E/G ratio of 7.37 and a beta of 0.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (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 for the quarter, compared to analyst estimates of $276.52 million. During the same period last year, the company earned $0.20 EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,084 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 value of $96,749.96. Following the completion of the sale, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. This trade represents a 14.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 10,262 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $243,106.78. Following the sale, the executive vice president directly owned 53,338 shares in the company, valued at approximately $1,263,577.22. The trade was a 16.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 47,844 shares of company stock valued at $1,093,684 in the last 90 days. Insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock worth $252,526,000 after acquiring an additional 1,255,594 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.4% during the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock valued at $65,238,000 after acquiring an additional 69,584 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 16.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock worth $59,712,000 after purchasing an additional 402,534 shares during the last quarter. Fred Alger Management LLC boosted its stake in ACADIA Pharmaceuticals by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock worth $46,007,000 after purchasing an additional 54,899 shares in the last quarter. Finally, First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after purchasing an additional 65,914 shares during the last quarter. Hedge funds and other institutional investors 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.