ACADIA Pharmaceuticals’ (ACAD) “Buy” Rating Reiterated at Needham & Company LLC

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They currently have a $35.00 price objective on the biopharmaceutical company’s stock. Needham & Company LLC‘s price target would indicate a potential upside of 72.01% from the company’s current price.

Several other research analysts have also weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, September 23rd. Royal Bank Of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. TD Cowen reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 24th. Stifel Nicolaus upped their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Finally, Citigroup reissued a “buy” rating and issued a $33.00 target price (down from $40.00) on shares of ACADIA Pharmaceuticals in a research report on Friday, September 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.34.

ACADIA Pharmaceuticals Stock Down 0.5%

Shares of ACAD stock traded down $0.09 during trading hours on Monday, reaching $20.35. 117,461 shares of the stock traded hands, compared to its average volume of 1,724,720. The firm has a market capitalization of $3.51 billion, a PE ratio of 9.16 and a beta of 0.88. The business has a fifty day moving average price of $25.15 and a 200 day moving average price of $24.01. ACADIA Pharmaceuticals has a 1-year low of $18.39 and a 1-year high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Research analysts expect that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Elizabeth Thompson sold 16,558 shares of the company’s stock in a transaction 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 approximately $496,313.22. This represents a 46.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Schneyer sold 14,292 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 36,699 shares of company stock valued at $1,019,894. 26.20% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in ACADIA Pharmaceuticals by 15.6% during the 2nd 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 during the last quarter. Cim Investment Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after purchasing an additional 1,034 shares during the last quarter. Swiss National Bank lifted its holdings in ACADIA Pharmaceuticals by 0.6% during the 1st quarter. Swiss National Bank now owns 234,404 shares of the biopharmaceutical company’s stock valued at $5,218,000 after purchasing an additional 1,500 shares during the last quarter. Nykredit A S bought a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $38,000. Finally, Integrated Wealth Concepts LLC bought a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $50,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company’s research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson’s disease psychosis.