ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $40.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective boosted by Citigroup from $39.00 to $40.00 in a research note released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on ACAD. Oppenheimer lifted their price objective on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Bank of America restated a “buy” rating and set a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Stifel Nicolaus lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Citizens Jmp upped their price target on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.36.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $29.73 on Tuesday. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 22.06 and a beta of 0.81. ACADIA Pharmaceuticals has a 1 year low of $19.69 and a 1 year high of $30.96. The firm has a fifty day moving average price of $26.64 and a 200-day moving average price of $23.63.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. During the same period last year, the firm earned $0.16 EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals will post 0.63 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,699 shares of company stock worth $1,019,894 in the last three months. 26.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares in the last quarter. GAMMA Investing LLC lifted its holdings in ACADIA Pharmaceuticals by 15.6% during the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 402 shares in the last quarter. Cetera Investment Advisers lifted its holdings in ACADIA Pharmaceuticals by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock valued at $437,000 after purchasing an additional 436 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in shares of ACADIA Pharmaceuticals by 2.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock valued at $551,000 after purchasing an additional 501 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of ACADIA Pharmaceuticals by 2.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock valued at $766,000 after purchasing an additional 566 shares during the period. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.