HC Wainwright Raises ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $28.00

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its target price increased by HC Wainwright from $25.00 to $28.00 in a research report report published on Tuesday, The Fly reports.

Several other research firms have also recently commented on ACAD. Oppenheimer boosted their price target on shares of ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the stock a market perform rating in a report on Wednesday, March 1st. JPMorgan Chase & Co. lowered their target price on shares of ACADIA Pharmaceuticals from $19.00 to $17.00 and set an overweight rating for the company in a report on Monday, November 14th. JMP Securities lowered their target price on shares of ACADIA Pharmaceuticals from $24.00 to $22.00 and set a market perform rating for the company in a report on Tuesday, February 28th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, December 1st. Finally, Morgan Stanley upped their target price on shares of ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the company an equal weight rating in a report on Tuesday, February 28th. 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 stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $21.67.

ACADIA Pharmaceuticals Stock Up 5.0 %

NASDAQ ACAD opened at $20.38 on Tuesday. ACADIA Pharmaceuticals has a 52 week low of $12.24 and a 52 week high of $28.06. The stock has a market capitalization of $3.31 billion, a PE ratio of -14.49 and a beta of 0.59. The firm has a 50 day moving average of $19.00 and a two-hundred day moving average of $17.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $136.49 million for the quarter, compared to analyst estimates of $135.18 million. During the same quarter last year, the firm earned ($0.27) EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that ACADIA Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,904 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $17.13, for a total transaction of $66,875.52. Following the completion of the transaction, the chief executive officer now owns 84,633 shares in the company, valued at approximately $1,449,763.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Laura Brege sold 12,500 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 3,904 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $17.13, for a total transaction of $66,875.52. Following the completion of the transaction, the chief executive officer now owns 84,633 shares of the company’s stock, valued at approximately $1,449,763.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,567 shares of company stock worth $427,672. 28.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently made changes to their positions in ACAD. Norges Bank purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $31,110,000. State Street Corp grew its stake in ACADIA Pharmaceuticals by 30.4% in the 2nd quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock valued at $92,909,000 after acquiring an additional 1,536,756 shares during the last quarter. Braidwell LP acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $23,770,000. Point72 Asset Management L.P. acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $17,765,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at about $17,775,000. Hedge funds and other institutional investors own 92.79% of the company’s stock.

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.