ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Raised to $20.00

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its target price upped by Mizuho from $19.00 to $20.00 in a research note released on Tuesday morning, The Fly reports.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of ACADIA Pharmaceuticals from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Monday, November 14th. Cantor Fitzgerald lifted their target price on shares of ACADIA Pharmaceuticals from $28.00 to $33.00 in a research note on Tuesday. Morgan Stanley lifted their target price on shares of ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the stock an equal weight rating in a research note on Tuesday, February 28th. Oppenheimer lifted their target price on shares of ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the stock a market perform rating in a research note on Wednesday, March 1st. Finally, HC Wainwright lifted their target price on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $21.67.

ACADIA Pharmaceuticals Trading Up 5.0 %

NASDAQ:ACAD opened at $20.38 on Tuesday. The company’s 50-day moving average price is $19.00 and its 200-day moving average price is $17.06. The company has a market cap of $3.31 billion, a P/E ratio of -14.49 and a beta of 0.59. ACADIA Pharmaceuticals has a twelve month low of $12.24 and a twelve month high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The business had revenue of $136.49 million during the quarter, compared to analysts’ expectations of $135.18 million. ACADIA Pharmaceuticals had a negative return on equity of 50.65% and a negative net margin of 41.76%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.27) earnings per share. On average, analysts expect that ACADIA Pharmaceuticals will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Stephen Davis sold 3,851 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,722,633.06. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Laura Brege sold 12,500 shares of the company’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $18.25, for a total value of $228,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen Davis sold 3,851 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the completion of the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at approximately $1,722,633.06. The disclosure for this sale can be found here. Insiders sold 23,567 shares of company stock worth $427,672 in the last 90 days. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Parkwood LLC raised its position in ACADIA Pharmaceuticals by 45.5% in the 2nd quarter. Parkwood LLC now owns 24,834 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 7,762 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at $25,000. Wipfli Financial Advisors LLC purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at $33,000. IFP Advisors Inc raised its position in ACADIA Pharmaceuticals by 284.6% in the 3rd quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $60,000. Hedge funds and other institutional investors own 92.79% of the company’s stock.

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.