ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Raised to $21.00 at Citigroup

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price target upped by Citigroup from $19.40 to $21.00 in a research report released on Tuesday morning, The Fly reports.

Other analysts also recently issued research reports about the stock. Mizuho reissued a neutral rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday. Morgan Stanley lifted their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the stock an equal weight rating in a report on Tuesday, February 28th. Royal Bank of Canada lifted their price objective on shares of ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the stock an outperform rating in a report on Tuesday, February 28th. Guggenheim raised shares of ACADIA Pharmaceuticals from a neutral rating to a buy rating and set a $22.00 price objective for the company in a report on Tuesday, January 3rd. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, December 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of Hold and an average target price of $21.67.

ACADIA Pharmaceuticals Stock Up 5.0 %

ACAD opened at $20.38 on Tuesday. The firm has a market capitalization of $3.31 billion, a P/E ratio of -14.49 and a beta of 0.59. The firm’s 50 day moving average is $19.00 and its 200-day moving average is $17.06. ACADIA Pharmaceuticals has a 52-week low of $12.24 and a 52-week high of $28.06.

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

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 3,851 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the sale, the chief executive officer now directly owns 91,727 shares in the company, valued at $1,722,633.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Stephen Davis sold 3,851 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the sale, the chief executive officer now directly owns 91,727 shares in the company, valued at $1,722,633.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura Brege sold 12,500 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $18.25, for a total transaction of $228,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,567 shares of company stock worth $427,672 over the last ninety days. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ACAD. Raymond James Financial Services Advisors Inc. bought a new stake in ACADIA Pharmaceuticals in the first quarter worth about $572,000. HighTower Advisors LLC bought a new stake in ACADIA Pharmaceuticals in the first quarter worth about $1,077,000. MetLife Investment Management LLC raised its position in ACADIA Pharmaceuticals by 54.0% in the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock worth $1,607,000 after acquiring an additional 23,265 shares in the last quarter. Rhumbline Advisers raised its position in ACADIA Pharmaceuticals by 3.9% in the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock worth $3,232,000 after acquiring an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in ACADIA Pharmaceuticals in the first quarter worth about $1,380,000. 92.79% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

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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.