Oppenheimer Reiterates “Market Perform” Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Oppenheimer reiterated their market perform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report published on Monday morning, Benzinga reports. They currently have a $19.00 target price on the biopharmaceutical company’s stock.

ACAD has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a report on Monday, March 25th. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an outperform rating and a $40.00 price target on the stock. Mizuho cut shares of ACADIA Pharmaceuticals from a buy rating to a neutral rating and dropped their price objective for the stock from $39.00 to $25.00 in a research report on Tuesday, March 12th. Royal Bank of Canada decreased their price objective on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, February 28th. Finally, TheStreet upgraded ACADIA Pharmaceuticals from a d rating to a c rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals has an average rating of Moderate Buy and an average price target of $31.75.

ACADIA Pharmaceuticals Trading Down 0.3 %

NASDAQ:ACAD opened at $17.00 on Monday. The stock has a market capitalization of $2.81 billion, a P/E ratio of -44.74 and a beta of 0.42. ACADIA Pharmaceuticals has a 1 year low of $16.16 and a 1 year high of $33.99. The firm has a 50 day moving average of $18.97 and a 200-day moving average of $23.29.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) EPS. As a group, analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

Insider Activity

In related news, COO Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the transaction, the chief operating officer now owns 36,340 shares of the company’s stock, valued at approximately $650,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the completion of the transaction, the chief executive officer now directly owns 155,231 shares of the company’s stock, valued at $2,629,613.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 5,140 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the sale, the chief operating officer now directly owns 36,340 shares in the company, valued at approximately $650,486. The disclosure for this sale can be found here. Insiders sold a total of 89,116 shares of company stock valued at $1,625,639 in the last ninety days. 27.50% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in ACADIA Pharmaceuticals during the 4th quarter worth about $39,000. China Universal Asset Management Co. Ltd. raised its position in ACADIA Pharmaceuticals by 97.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 2,070 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $100,000. Acadian Asset Management LLC acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $184,000. Finally, Legato Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $206,000. 96.71% of the stock is owned by institutional investors.

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 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.