JMP Securities reissued their market outperform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Free Report) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $42.00 target price on the biopharmaceutical company’s stock.
ACAD has been the topic of a number of other research reports. Mizuho increased their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a buy rating in a research report on Friday, December 29th. Robert W. Baird assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an outperform rating and a $40.00 price target on the stock. Oppenheimer restated a market perform rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday. Morgan Stanley upgraded ACADIA Pharmaceuticals from an equal weight rating to an overweight rating and upped their price objective for the stock from $31.00 to $40.00 in a research note on Tuesday, December 19th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $36.26.
ACADIA Pharmaceuticals Stock Down 2.1 %
Insider Buying and Selling
In related news, CEO Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $29.96, for a total transaction of $111,810.72. Following the transaction, the chief executive officer now owns 96,521 shares in the company, valued at $2,891,769.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider James Kihara sold 2,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $28.30, for a total transaction of $56,600.00. Following the transaction, the insider now owns 11,025 shares of the company’s stock, valued at approximately $312,007.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Davis sold 3,732 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.96, for a total value of $111,810.72. Following the sale, the chief executive officer now owns 96,521 shares in the company, valued at approximately $2,891,769.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,106 shares of company stock worth $480,868. 27.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
Large investors have recently bought and sold shares of the stock. Nemes Rush Group LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $48,000. China Universal Asset Management Co. Ltd. grew its stake in ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 2,070 shares during the last quarter. State of Wyoming purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $92,000. Lazard Asset Management LLC grew its stake in ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 1,088 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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