ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report released on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $37.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on ACAD. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an outperform rating for the company in a research note on Wednesday, February 28th. Morgan Stanley dropped their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating on the stock in a research report on Wednesday, March 13th. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an outperform rating and a $40.00 price objective for the company. StockNews.com upgraded ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, January 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of Moderate Buy and an average price target of $32.13.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $17.05 on Tuesday. The business’s 50 day moving average is $19.31 and its two-hundred day moving average is $23.38. ACADIA Pharmaceuticals has a 1-year low of $16.16 and a 1-year high of $33.99. The stock has a market capitalization of $2.82 billion, a P/E ratio of -44.87 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.26) EPS. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the sale, the chief financial officer now directly owns 32,053 shares in the company, valued at $542,977.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at approximately $542,977.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 3,477 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $58,900.38. Following the transaction, the chief operating officer now directly owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The disclosure for this sale can be found here. Insiders sold 89,116 shares of company stock worth $1,625,639 in the last 90 days. Corporate insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth $2,206,000. Qube Research & Technologies Ltd grew its position in shares of ACADIA Pharmaceuticals by 757.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock worth $4,437,000 after buying an additional 188,080 shares during the period. RTW Investments LP raised its stake in shares of ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after buying an additional 1,793,288 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after buying an additional 91,641 shares during the period. Finally, Northern Trust Corp boosted its stake in ACADIA Pharmaceuticals by 4.9% in the third quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock valued at $25,439,000 after acquiring an additional 57,555 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.