Shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) saw unusually-high trading volume on Tuesday . Approximately 2,972,416 shares changed hands during trading, an increase of 65% from the previous session’s volume of 1,801,355 shares.The stock last traded at $34.00 and had previously closed at $35.23.

ACAD has been the subject of several recent research reports. Piper Jaffray Cos. reissued a “positive” rating and set a $44.00 price target on shares of Acadia Pharmaceuticals in a report on Thursday, May 19th. Vetr raised Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Tuesday, August 2nd. Bank of America Corp. lowered Acadia Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Wednesday, June 22nd. They noted that the move was a valuation call. Aegis lowered Acadia Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $54.00 to $41.00 in a research note on Friday. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Acadia Pharmaceuticals in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.60.

The company has a 50 day moving average price of $34.46 and a 200-day moving average price of $29.32. The stock’s market cap is $3.40 billion.

Acadia Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by $0.14. The company earned $0.97 million during the quarter, compared to the consensus estimate of $0.71 million. Acadia Pharmaceuticals’s revenue was up 96900.0% compared to the same quarter last year. During the same period last year, the business earned ($0.39) EPS. Analysts anticipate that Acadia Pharmaceuticals Inc. will post ($2.16) EPS for the current fiscal year.

In other Acadia Pharmaceuticals news, EVP Glenn Baity sold 4,057 shares of Acadia Pharmaceuticals stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $35.00, for a total transaction of $141,995.00. Following the completion of the transaction, the executive vice president now owns 66,978 shares in the company, valued at approximately $2,344,230. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Several institutional investors recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in Acadia Pharmaceuticals by 2.4% in the fourth quarter. Rhumbline Advisers now owns 74,690 shares of the biopharmaceutical company’s stock worth $2,663,000 after buying an additional 1,715 shares during the last quarter. Mutual of America Capital Management LLC raised its position in 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 worth $2,779,000 after buying an additional 466 shares during the last quarter. New York State Common Retirement Fund raised its position in Acadia Pharmaceuticals by 13.6% in the fourth quarter. New York State Common Retirement Fund now owns 95,020 shares of the biopharmaceutical company’s stock worth $3,387,000 after buying an additional 11,400 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Acadia Pharmaceuticals by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 150,666 shares of the biopharmaceutical company’s stock worth $5,372,000 after buying an additional 1,739 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Acadia Pharmaceuticals by 0.5% in the fourth quarter. California Public Employees Retirement System now owns 194,000 shares of the biopharmaceutical company’s stock worth $6,916,000 after buying an additional 900 shares during the last quarter.

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

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