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

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price objective boosted by equities research analysts at Morgan Stanley from $19.00 to $20.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price points to a potential upside of 0.76% from the stock’s current price.

A number of other brokerages also recently issued reports on ACAD. Cantor Fitzgerald upped their price target on ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, December 1st. Citigroup upped their price target on ACADIA Pharmaceuticals from $19.40 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday. Guggenheim increased their target price on ACADIA Pharmaceuticals from $22.00 to $25.00 in a research report on Tuesday. Finally, Royal Bank of Canada increased their target price on ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Hold” and an average price target of $21.44.

ACADIA Pharmaceuticals Stock Down 2.6 %

Shares of ACAD stock opened at $19.85 on Tuesday. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -14.81 and a beta of 0.59. The business’s fifty day moving average is $19.08 and its 200 day moving average is $17.09. 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 issued 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). 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 during the quarter, compared to analysts’ expectations of $135.18 million. During the same period in the previous year, the company earned ($0.27) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts expect that ACADIA Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,904 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $17.13, for a total transaction of $66,875.52. Following the completion of the sale, the chief executive officer now owns 84,633 shares of the company’s stock, valued at approximately $1,449,763.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Laura Brege sold 12,500 shares of the company’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $18.25, for a total value of $228,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 3,904 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $17.13, for a total value of $66,875.52. Following the sale, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The disclosure for this sale can be found here. Insiders have sold a total of 23,567 shares of company stock worth $427,672 in the last ninety days. 28.40% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 4.2% in the third quarter. Vanguard Group Inc. now owns 12,925,641 shares of the biopharmaceutical company’s stock valued at $211,463,000 after acquiring an additional 525,048 shares during the last quarter. BlackRock Inc. raised its stake in shares of ACADIA Pharmaceuticals by 2.4% in the third quarter. BlackRock Inc. now owns 9,973,155 shares of the biopharmaceutical company’s stock valued at $163,161,000 after acquiring an additional 231,841 shares in the last quarter. State Street Corp raised its stake in shares of ACADIA Pharmaceuticals by 2.8% in the third quarter. State Street Corp now owns 6,778,871 shares of the biopharmaceutical company’s stock valued at $110,902,000 after acquiring an additional 184,921 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ACADIA Pharmaceuticals by 4.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,891,348 shares of the biopharmaceutical company’s stock valued at $80,023,000 after buying an additional 197,633 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 34.5% in the third quarter. First Trust Advisors LP now owns 2,919,860 shares of the biopharmaceutical company’s stock valued at $47,769,000 after buying an additional 748,618 shares during the last quarter. 92.79% of the stock is currently owned by hedge funds and other 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.