ACADIA Pharmaceuticals’ (ACAD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $28.00 price objective on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada cut their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald dropped their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Up 2.4 %

Shares of NASDAQ ACAD traded up $0.41 during midday trading on Thursday, hitting $17.61. The company had a trading volume of 888,829 shares, compared to its average volume of 1,687,000. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 95.56 and a beta of 0.38. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59. The business has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $15.97.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. On average, equities analysts forecast that ACADIA Pharmaceuticals will post 0.51 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,014 shares of company stock valued at $779,494. Corporate insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Capstone Investment Advisors LLC bought a new stake in ACADIA Pharmaceuticals in the first quarter worth about $211,000. SG Americas Securities LLC lifted its stake in ACADIA Pharmaceuticals by 246.7% during the first quarter. SG Americas Securities LLC now owns 84,956 shares of the biopharmaceutical company’s stock valued at $1,571,000 after purchasing an additional 60,452 shares during the last quarter. Swiss National Bank boosted its holdings in ACADIA Pharmaceuticals by 0.4% during the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after buying an additional 800 shares in the last quarter. Sei Investments Co. grew its position in ACADIA Pharmaceuticals by 6.2% in the first quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock worth $642,000 after buying an additional 2,034 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at $48,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.