ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 12-Month High on Analyst Upgrade

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) hit a new 52-week high on Monday after Bank of America raised their price target on the stock from $23.00 to $26.00. The company traded as high as $24.58 and last traded at $24.20, with a volume of 142426 shares traded. The stock had previously closed at $24.31.

A number of other research analysts also recently issued reports on the company. JMP Securities boosted their price objective on ACADIA Pharmaceuticals from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 9th. Credit Suisse Group boosted their price objective on ACADIA Pharmaceuticals from $93.00 to $95.00 in a research note on Friday, April 28th. Oppenheimer boosted their price objective on ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, March 1st. Cantor Fitzgerald boosted their price objective on ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, March 14th. Finally, Jefferies Financial Group upped their price target on ACADIA Pharmaceuticals from $10.00 to $15.00 in a research note on Tuesday, March 14th. Two analysts have rated the stock with a sell rating, five have issued 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 “Moderate Buy” and a consensus price target of $25.43.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Austin D. Kim sold 1,456 shares of the company’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $18.16, for a total value of $26,440.96. Following the completion of the transaction, the executive vice president now directly owns 23,425 shares of the company’s stock, valued at $425,398. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Stephen Davis sold 3,851 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was 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 directly owns 91,727 shares of the company’s stock, valued at $1,722,633.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Austin D. Kim sold 1,456 shares of the stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $18.16, for a total value of $26,440.96. Following the transaction, the executive vice president now directly owns 23,425 shares of the company’s stock, valued at $425,398. The disclosure for this sale can be found here. Insiders sold a total of 66,368 shares of company stock valued at $1,393,764 over the last ninety days. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. C M Bidwell & Associates Ltd. bought a new position in ACADIA Pharmaceuticals during the first quarter valued at $30,000. IFP Advisors Inc lifted its position in shares of ACADIA Pharmaceuticals by 284.6% during the third quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,500 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of ACADIA Pharmaceuticals by 33.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 553 shares in the last quarter. CWM LLC lifted its position in shares of ACADIA Pharmaceuticals by 7,783.3% during the first quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 2,335 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of ACADIA Pharmaceuticals by 169.0% during the first quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 1,960 shares in the last quarter. 92.79% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Up 2.0 %

The stock has a market cap of $4.03 billion, a PE ratio of -27.25 and a beta of 0.54. The firm has a 50-day simple moving average of $20.15 and a 200-day simple moving average of $18.31.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.06). ACADIA Pharmaceuticals had a negative return on equity of 35.70% and a negative net margin of 28.05%. The company had revenue of $118.46 million for the quarter, compared to analysts’ expectations of $120.29 million. During the same quarter in the prior year, the company earned ($0.70) EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post -0.57 earnings per share for the current year.

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.