ACADIA Pharmaceuticals’ (ACAD) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $37.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 132.41% from the company’s previous close.

Other equities analysts have also issued reports about the company. JMP Securities restated a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. JPMorgan Chase & Co. reduced their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Oppenheimer restated a “market perform” rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Finally, Stifel Nicolaus reduced their price target on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $30.25.

ACADIA Pharmaceuticals Stock Down 7.1 %

Shares of NASDAQ ACAD traded down $1.21 during trading hours on Thursday, reaching $15.92. 595,703 shares of the stock traded hands, compared to its average volume of 1,731,391. The company has a market capitalization of $2.63 billion, a P/E ratio of -42.24 and a beta of 0.42. ACADIA Pharmaceuticals has a 52-week low of $15.68 and a 52-week high of $33.99. The company’s 50-day simple moving average is $18.66 and its two-hundred day simple moving average is $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. ACADIA Pharmaceuticals’s revenue for the quarter was up 73.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.27) EPS. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the transaction, the chief executive officer now owns 101,890 shares in the company, valued at $2,513,626.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the transaction, the chief executive officer now owns 101,890 shares in the company, valued at $2,513,626.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now owns 32,053 shares of the company’s stock, valued at approximately $542,977.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,116 shares of company stock worth $1,625,639. 27.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. RTW Investments LP raised its stake in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after purchasing an additional 1,793,288 shares during the last quarter. Fred Alger Management LLC increased its position in ACADIA Pharmaceuticals by 38.7% during the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock valued at $64,789,000 after acquiring an additional 867,818 shares during the last quarter. First Trust Advisors LP increased its position in ACADIA Pharmaceuticals by 9.1% during the fourth quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock valued at $55,647,000 after acquiring an additional 148,526 shares during the last quarter. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at $45,187,000. Finally, Jupiter Asset Management Ltd. increased its position in ACADIA Pharmaceuticals by 0.4% during the third quarter. Jupiter Asset Management Ltd. now owns 1,276,216 shares of the biopharmaceutical company’s stock valued at $26,596,000 after acquiring an additional 4,932 shares during the last quarter. Hedge funds and other institutional investors 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.