ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Raised to $26.00 at Canaccord Genuity Group

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its target price lifted by investment analysts at Canaccord Genuity Group from $24.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 30.98% from the stock’s previous close.

ACAD has been the topic of several other reports. Citigroup increased their price objective on ACADIA Pharmaceuticals from $19.40 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group increased their price objective on ACADIA Pharmaceuticals from $10.00 to $15.00 in a research note on Tuesday. Guggenheim increased their price objective on ACADIA Pharmaceuticals from $22.00 to $25.00 in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday. Finally, Morgan Stanley increased their price objective on ACADIA Pharmaceuticals from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $21.44.

ACADIA Pharmaceuticals Stock Down 2.6 %

NASDAQ:ACAD opened at $19.85 on Tuesday. The stock’s fifty day moving average is $19.08 and its two-hundred day moving average is $17.09. 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 $3.22 billion, a price-to-earnings ratio of -14.81 and a beta of 0.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last released its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) EPS 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 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 company earned ($0.27) earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that ACADIA Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,904 shares of the firm’s 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 transaction, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Stephen Davis sold 3,904 shares of the firm’s 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 transaction, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura Brege sold 12,500 shares of the firm’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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,567 shares of company stock valued at $427,672. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,925,641 shares of the biopharmaceutical company’s stock valued at $211,463,000 after purchasing an additional 525,048 shares in the last quarter. BlackRock Inc. boosted its holdings in ACADIA Pharmaceuticals by 2.4% in the 3rd quarter. BlackRock Inc. now owns 9,973,155 shares of the biopharmaceutical company’s stock valued at $163,161,000 after purchasing an additional 231,841 shares in the last quarter. State Street Corp boosted its holdings in ACADIA Pharmaceuticals by 2.8% in the 3rd quarter. State Street Corp now owns 6,778,871 shares of the biopharmaceutical company’s stock valued at $110,902,000 after purchasing an additional 184,921 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ACADIA Pharmaceuticals by 4.2% in the 3rd 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 purchasing an additional 197,633 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 34.5% in the 3rd quarter. First Trust Advisors LP now owns 2,919,860 shares of the biopharmaceutical company’s stock valued at $47,769,000 after purchasing an additional 748,618 shares in the last quarter. 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.