ACADIA Pharmaceuticals (ACAD) Raised to “Buy” at BidaskClub

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, November 8th. Cowen restated a “buy” rating and issued a $46.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 7th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, November 15th. Finally, ValuEngine lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.86.

ACADIA Pharmaceuticals (NASDAQ ACAD) opened at $30.92 on Friday. ACADIA Pharmaceuticals has a 52 week low of $25.06 and a 52 week high of $41.20. The firm has a market capitalization of $3,840.00, a PE ratio of -12.57 and a beta of 3.48.

In related news, EVP Glenn Baity sold 74,321 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $30.14, for a total value of $2,240,034.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Laura Brege sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $30.06, for a total value of $751,500.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $450,900. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,879 shares of company stock worth $4,175,649. 22.25% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Earnest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $133,000. Turner Investments LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ACADIA Pharmaceuticals by 43.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 1,710 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 56.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $200,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

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About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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