ACADIA Pharmaceuticals’ (ACAD) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report issued on Tuesday,Benzinga reports. They currently have a $37.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. Citigroup boosted their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada decreased their price target on ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Wall Street Zen lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.25.

ACADIA Pharmaceuticals Stock Down 3.2%

Shares of NASDAQ:ACAD opened at $23.46 on Tuesday. The firm has a market cap of $3.97 billion, a P/E ratio of 15.14, a P/E/G ratio of 8.51 and a beta of 0.66. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $28.35. The company’s 50-day moving average price is $26.50 and its two-hundred day moving average price is $24.45.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The company had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. During the same period in the prior year, the business earned $0.20 earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director James M. Daly sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the transaction, the director owned 4,041 shares in the company, valued at approximately $90,397.17. This trade represents a 88.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,084 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $96,749.96. Following the transaction, the insider owned 25,058 shares of the company’s stock, valued at $593,624.02. The trade was a 14.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 44,346 shares of company stock valued at $1,010,957. 26.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several large investors have recently bought and sold shares of ACAD. Braidwell LP acquired a new stake in ACADIA Pharmaceuticals in the third quarter worth $50,760,000. Marshall Wace LLP increased its position in shares of ACADIA Pharmaceuticals by 496.2% in the 2nd quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock valued at $42,487,000 after buying an additional 1,639,315 shares in the last quarter. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $31,679,000. Millennium Management LLC raised its stake in ACADIA Pharmaceuticals by 2,052.1% during the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after buying an additional 1,414,315 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after acquiring an additional 1,312,426 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.