ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report issued on Thursday, Stock Target Advisor reports. The brokerage set an “outperform” rating and a $31.00 price target on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 100.00% from the stock’s current price.

Other research analysts also recently issued research reports about the company. HC Wainwright dropped their price objective on ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Stifel Nicolaus dropped their price objective on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Mizuho decreased their target price on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Robert W. Baird decreased their target price on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.71.

ACADIA Pharmaceuticals Trading Down 0.6 %

ACAD opened at $15.50 on Thursday. The stock’s 50-day moving average price is $15.68 and its 200 day moving average price is $21.42. ACADIA Pharmaceuticals has a 12-month low of $14.55 and a 12-month high of $33.99. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -1,548.45 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. During the same quarter in the prior year, the company earned ($0.27) EPS. ACADIA Pharmaceuticals’s revenue was up 73.8% on a year-over-year basis. On average, research analysts forecast that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares of the company’s stock, valued at $542,977.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 3,503 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 $59,340.82. Following the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,356 shares of company stock valued at $949,987. Corporate insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at about $4,479,000. Perceptive Advisors LLC bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $3,162,000. Jump Financial LLC boosted its stake in shares of ACADIA Pharmaceuticals by 326.3% during the 4th quarter. Jump Financial LLC now owns 116,341 shares of the biopharmaceutical company’s stock worth $3,643,000 after acquiring an additional 89,053 shares in the last quarter. M&G Investment Management Ltd. bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $10,349,000. Finally, UBS Group AG boosted its stake in shares of ACADIA Pharmaceuticals by 112.4% during the 4th quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock worth $9,623,000 after acquiring an additional 162,663 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

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.