Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) shares shot up 6.6% during mid-day trading on Wednesday . The company traded as high as $35.65 and last traded at $34.89, with a volume of 2,030,878 shares traded. The stock had previously closed at $32.74.

A number of research firms recently issued reports on ACAD. Piper Jaffray Cos. reiterated an “overweight” rating and set a $44.00 target price on shares of Acadia Pharmaceuticals in a research report on Friday, July 8th. Cowen and Company reiterated a “buy” rating on shares of Acadia Pharmaceuticals in a research report on Sunday, April 17th. JMP Securities reiterated an “outperform” rating and set a $43.00 target price on shares of Acadia Pharmaceuticals in a research report on Tuesday, March 22nd. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Acadia Pharmaceuticals in a research report on Monday, March 28th. Finally, Bank of America Corp. downgraded shares of Acadia Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research report on Wednesday, June 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $46.20.

The stock’s market capitalization is $3.92 billion. The stock has a 50 day moving average of $35.34 and a 200-day moving average of $28.29.

Acadia Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. During the same quarter in the previous year, the company earned ($0.40) earnings per share. Equities research analysts expect that Acadia Pharmaceuticals Inc. will post ($1.70) earnings per share for the current year.

In other news, EVP Glenn Baity sold 4,057 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $35.00, for a total transaction of $141,995.00. Following the transaction, the executive vice president now owns 66,978 shares of the company’s stock, valued at approximately $2,344,230. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

A number of institutional investors have made changes to their positions in ACAD. Dimensional Fund Advisors LP increased its position in shares of Acadia Pharmaceuticals by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 150,666 shares of the biopharmaceutical company’s stock valued at $5,372,000 after buying an additional 1,739 shares during the period. Morgan Stanley increased its position in shares of Acadia Pharmaceuticals by 9.3% in the fourth quarter. Morgan Stanley now owns 321,183 shares of the biopharmaceutical company’s stock valued at $11,449,000 after buying an additional 27,260 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Acadia Pharmaceuticals by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 77,957 shares of the biopharmaceutical company’s stock valued at $2,779,000 after buying an additional 466 shares during the period. Tekla Capital Management LLC increased its position in shares of Acadia Pharmaceuticals by 13.3% in the fourth quarter. Tekla Capital Management LLC now owns 637,500 shares of the biopharmaceutical company’s stock valued at $22,727,000 after buying an additional 75,000 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Acadia Pharmaceuticals during the fourth quarter valued at approximately $5,838,000.

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for the treatment of neurological and related central nervous system disorders. The Company’s drug candidate NUPLAZID (pimavanserin) is under development for the treatment of Parkinson’s disease psychosis, Alzheimer’s disease psychosis, Schizophrenia and Sleep disturbances.

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