ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, Citizens Jmp Analyst Says

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective increased by Citizens Jmp from $35.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biopharmaceutical company’s stock. Citizens Jmp’s target price would suggest a potential upside of 25.61% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Citigroup reissued a “market outperform” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday. BMO Capital Markets raised their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Canaccord Genuity Group upped their price target on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.53.

ACADIA Pharmaceuticals Price Performance

ACAD traded up $1.51 on Wednesday, reaching $28.66. 2,015,080 shares of the company traded hands, compared to its average volume of 1,656,634. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 17.76 and a beta of 0.81. The stock’s 50 day moving average price is $23.95 and its 200-day moving average price is $23.20. ACADIA Pharmaceuticals has a 52-week low of $19.69 and a 52-week high of $29.17.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $295.51 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. As a group, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, insider James Kihara sold 5,401 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 18,994 shares in the company, valued at approximately $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 26.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $40,266,000. Jupiter Asset Management Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 30.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after buying an additional 144,732 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after purchasing an additional 106,807 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in ACADIA Pharmaceuticals by 44.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 954,855 shares of the biopharmaceutical company’s stock worth $21,312,000 after purchasing an additional 296,042 shares in the last quarter. Finally, UBS Group AG increased its stake in ACADIA Pharmaceuticals by 15.7% in the 4th quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after buying an additional 104,546 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.