ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $36.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price raised by BMO Capital Markets from $34.00 to $36.00 in a research report released on Tuesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on the stock. HC Wainwright lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Royal Bank Of Canada raised their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Bank of America upped their price objective on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings lowered ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.17.

ACADIA Pharmaceuticals Trading Down 0.5%

Shares of NASDAQ ACAD opened at $24.83 on Tuesday. ACADIA Pharmaceuticals has a 1 year low of $19.69 and a 1 year high of $28.35. The firm’s 50-day moving average is $23.16 and its 200-day moving average is $23.24. The firm has a market capitalization of $4.25 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 17.31 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,506 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. This trade represents a 5.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider owned 24,509 shares in the company, valued at approximately $519,100.62. This represents a 18.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,239 shares of company stock valued at $219,813 in the last three months. 26.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of ACADIA Pharmaceuticals by 25.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock valued at $17,320,000 after purchasing an additional 133,393 shares during the period. Norges Bank bought a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $40,266,000. Jupiter Asset Management Ltd. raised its holdings in ACADIA Pharmaceuticals by 30.4% during the 4th quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock worth $16,588,000 after buying an additional 144,732 shares during the period. Geode Capital Management LLC lifted its stake in 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 buying an additional 106,807 shares in the last quarter. Finally, UBS Group AG lifted its stake in ACADIA Pharmaceuticals by 15.7% in the fourth 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 in 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.