ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $15.00

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price target raised by Jefferies Financial Group from $10.00 to $15.00 in a research note issued to investors on Tuesday morning, The Fly reports.

Several other brokerages have also issued reports on ACAD. Morgan Stanley upped their price target on ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the company an equal weight rating in a research note on Tuesday, February 28th. Royal Bank of Canada increased their target price on ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the company an outperform rating in a research note on Tuesday, February 28th. HC Wainwright increased their target price on ACADIA Pharmaceuticals from $25.00 to $28.00 in a research note on Tuesday. Oppenheimer increased their target price on ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a market perform rating in a research note on Wednesday, March 1st. Finally, Guggenheim raised ACADIA Pharmaceuticals from a neutral rating to a buy rating and set a $22.00 target price on the stock in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of Hold and an average price target of $21.67.

ACADIA Pharmaceuticals Stock Up 5.0 %

Shares of ACAD opened at $20.38 on Tuesday. ACADIA Pharmaceuticals has a 12-month low of $12.24 and a 12-month high of $28.06. The firm has a market capitalization of $3.31 billion, a PE ratio of -14.49 and a beta of 0.59. The stock’s fifty day simple moving average is $19.00 and its 200-day simple moving average is $17.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). ACADIA Pharmaceuticals had a negative net margin of 41.76% and a negative return on equity of 50.65%. The firm had revenue of $136.49 million for the quarter, compared to analyst estimates of $135.18 million. During the same period last year, the company earned ($0.27) EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that ACADIA Pharmaceuticals will post -0.66 EPS for the current year.

Insider Buying and Selling

In related news, Director Laura Brege sold 12,500 shares of the stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Laura Brege sold 12,500 shares of the stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Davis sold 3,851 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $18.78, for a total value of $72,321.78. Following the completion of the transaction, the chief executive officer now owns 91,727 shares of the company’s stock, valued at $1,722,633.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,567 shares of company stock worth $427,672. 28.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in ACADIA Pharmaceuticals by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 622 shares in the last quarter. Handelsbanken Fonder AB grew its stake in ACADIA Pharmaceuticals by 3.2% in the fourth quarter. Handelsbanken Fonder AB now owns 25,433 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in ACADIA Pharmaceuticals by 1.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,753 shares of the biopharmaceutical company’s stock valued at $967,000 after purchasing an additional 844 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of ACADIA Pharmaceuticals by 6.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,930 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 865 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of ACADIA Pharmaceuticals by 45.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,937 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 1,228 shares during the period. 92.79% of the stock is currently owned by institutional investors.

About ACADIA Pharmaceuticals

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.