ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Reiterated by Raymond James

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “market perform” rating reissued by research analysts at Raymond James in a research note issued on Thursday, MarketBeat reports.

Other equities analysts also recently issued research reports about the stock. Citigroup lowered their target price on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald decreased their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Finally, Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $14.92 on Thursday. The firm has a market cap of $2.47 billion, a PE ratio of 82.89, a PEG ratio of 0.49 and a beta of 0.38. ACADIA Pharmaceuticals has a one year low of $14.31 and a one year high of $32.59. The firm’s 50 day moving average price is $15.82 and its 200-day moving average price is $16.34.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 earnings per share. Equities research analysts predict that ACADIA Pharmaceuticals will post 0.52 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Stephen Davis sold 31,747 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the sale, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Park Place Capital Corp bought a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Covestor Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $48,000. Stonepine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $81,000. Finally, Acadian Asset Management LLC acquired a new position in ACADIA Pharmaceuticals during the second quarter worth $111,000. 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.