ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Up 6.4% – Still a Buy?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price was up 6.4% during mid-day trading on Thursday . The stock traded as high as $18.78 and last traded at $18.95. Approximately 661,907 shares were traded during trading, a decline of 85% from the average daily volume of 4,556,582 shares. The stock had previously closed at $17.81.

Analyst Ratings Changes

Several research analysts have issued reports on ACAD shares. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.25.

ACADIA Pharmaceuticals Stock Up 7.1 %

The business’s fifty day moving average is $17.21 and its 200-day moving average is $16.58. The stock has a market capitalization of $3.17 billion, a PE ratio of 24.46 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) earnings per share. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the sale, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Kihara sold 4,073 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,661 shares of company stock valued at $414,551 over the last ninety days. Corporate insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ACAD. Park Place Capital Corp acquired a new stake in ACADIA Pharmaceuticals in the third quarter valued at $25,000. Values First Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the third quarter worth $27,000. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $47,000. Quest Partners LLC raised its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. Finally, Stonepine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $81,000. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.