ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives Overweight Rating from Cantor Fitzgerald

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $37.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 117.01% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Oppenheimer reiterated a “market perform” rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 9th. TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Finally, Mizuho cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.13.

ACADIA Pharmaceuticals Stock Up 2.0 %

Shares of ACADIA Pharmaceuticals stock opened at $17.05 on Tuesday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -43.97 and a beta of 0.37. ACADIA Pharmaceuticals has a 12-month low of $16.16 and a 12-month high of $33.99. The firm’s 50-day moving average price is $19.62 and its two-hundred day moving average price is $23.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company’s quarterly revenue was up 69.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.26) earnings per share. On average, sell-side analysts expect that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the transaction, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brendan Teehan sold 2,568 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $45,890.16. Following the sale, the chief operating officer now directly owns 38,796 shares of the company’s stock, valued at approximately $693,284.52. The disclosure for this sale can be found here. Insiders sold a total of 69,383 shares of company stock worth $1,291,362 in the last quarter. 27.50% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently modified their holdings of the stock. Raymond James & Associates grew its position in ACADIA Pharmaceuticals by 18.1% in the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 1,630 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ACADIA Pharmaceuticals by 12.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,405 shares of the biopharmaceutical company’s stock worth $488,000 after purchasing an additional 2,548 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,695,000 after purchasing an additional 6,519 shares during the period. Emerald Advisers LLC raised its stake in shares of ACADIA Pharmaceuticals by 4.0% during the 3rd quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock worth $35,033,000 after purchasing an additional 64,100 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in ACADIA Pharmaceuticals by 1.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,303,988 shares of the biopharmaceutical company’s stock valued at $27,175,000 after acquiring an additional 12,894 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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 in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.