StockNews.com Begins Coverage on ACADIA Pharmaceuticals (NASDAQ:ACAD)

StockNews.com started coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) in a report released on Thursday morning. The firm issued a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on ACAD. HC Wainwright boosted their price target on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the stock a buy rating in a report on Tuesday, March 14th. Guggenheim boosted their price target on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 in a report on Tuesday, March 14th. Jefferies Financial Group boosted their price target on shares of ACADIA Pharmaceuticals from $10.00 to $15.00 in a report on Tuesday, March 14th. Oppenheimer upped their target price on shares of ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a market perform rating in a report on Wednesday, March 1st. Finally, Cantor Fitzgerald upped their target price on shares of ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the company an overweight rating in a report on Tuesday, March 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $21.44.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $19.80 on Thursday. The company has a 50 day moving average price of $19.26 and a 200 day moving average price of $17.15. ACADIA Pharmaceuticals has a fifty-two week low of $12.24 and a fifty-two week high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). ACADIA Pharmaceuticals had a negative return on equity of 50.65% and a negative net margin of 41.76%. The firm had revenue of $136.49 million for the quarter, compared to analyst estimates of $135.18 million. During the same quarter last year, the firm earned ($0.27) EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that ACADIA Pharmaceuticals will post -0.55 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 3,904 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $17.13, for a total value of $66,875.52. Following the completion of the sale, the chief executive officer now owns 84,633 shares in the company, valued at approximately $1,449,763.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,904 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $17.13, for a total transaction of $66,875.52. Following the completion of the transaction, the chief executive officer now owns 84,633 shares in the company, valued at approximately $1,449,763.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura Brege sold 12,500 shares of the company’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The disclosure for this sale can be found here. Insiders sold a total of 23,567 shares of company stock worth $427,672 in the last 90 days. 28.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth $2,432,000. Nordea Investment Management AB grew its stake in shares of ACADIA Pharmaceuticals by 1.7% during the 2nd quarter. Nordea Investment Management AB now owns 630,080 shares of the biopharmaceutical company’s stock worth $8,890,000 after purchasing an additional 10,555 shares during the period. Bain Capital Life Sciences Investors LLC grew its stake in shares of ACADIA Pharmaceuticals by 1.7% during the 3rd quarter. Bain Capital Life Sciences Investors LLC now owns 610,523 shares of the biopharmaceutical company’s stock worth $9,988,000 after purchasing an additional 10,000 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 200,032 shares of the biopharmaceutical company’s stock worth $3,273,000 after purchasing an additional 2,117 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of ACADIA Pharmaceuticals by 268.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 102,825 shares of the biopharmaceutical company’s stock worth $1,682,000 after purchasing an additional 74,952 shares during the period. Hedge funds and other institutional investors own 92.79% of the company’s stock.

About ACADIA Pharmaceuticals

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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.