ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

Other research analysts have also issued reports about the company. William Blair set a $33.00 target price on ACADIA Pharmaceuticals in a research report on Monday, September 28th. TD Cowen reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 24th. Needham & Company LLC reduced their price target on ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating for the company in a report on Friday, September 25th. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, September 23rd. Finally, Citigroup restated a “buy” rating and issued a $33.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a report on Friday, September 25th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.71.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $19.78 on Friday. ACADIA Pharmaceuticals has a 52 week low of $19.32 and a 52 week high of $30.96. The stock has a market cap of $3.41 billion, a PE ratio of 8.91 and a beta of 0.88. The company’s 50-day moving average price is $26.39 and its two-hundred day moving average price is $24.11.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts predict that ACADIA Pharmaceuticals will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Elizabeth Thompson sold 16,558 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company’s stock, valued at $496,313.22. This represents a 46.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Schneyer sold 14,292 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the transaction, the executive vice president owned 67,828 shares of the company’s stock, valued at $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 36,699 shares of company stock valued at $1,019,894. Insiders own 26.20% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in ACADIA Pharmaceuticals by 36.1% during the 3rd quarter. GAMMA Investing LLC now owns 4,064 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 1,079 shares during the period. Farther Finance Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 996.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company’s stock worth $182,000 after acquiring an additional 8,200 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $424,000. Cim Investment Management Inc. grew its holdings in ACADIA Pharmaceuticals by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock worth $386,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $597,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.