ACADIA Pharmaceuticals (NASDAQ:ACAD) Research Coverage Started at BMO Capital Markets

BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued an outperform rating and a $31.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. Bank of America dropped their target price on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a neutral rating on the stock in a report on Friday, May 10th. Citigroup dropped their price target on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a buy rating on the stock in a research report on Thursday, May 9th. HC Wainwright reduced their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a buy rating for the company in a research report on Thursday, May 9th. Needham & Company LLC reissued a buy rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Finally, Oppenheimer reaffirmed a market perform rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of Moderate Buy and a consensus target price of $28.71.

ACADIA Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ ACAD opened at $16.25 on Thursday. The firm has a fifty day simple moving average of $15.65 and a 200 day simple moving average of $21.30. ACADIA Pharmaceuticals has a twelve month low of $14.55 and a twelve month high of $33.99. The company has a market capitalization of $2.68 billion, a PE ratio of -1,625.00 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million during the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. ACADIA Pharmaceuticals’s revenue for the quarter was up 73.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.27) EPS. As a group, equities analysts expect that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the sale, the chief financial officer now directly owns 32,053 shares in the company, valued at $542,977.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares in the company, valued at approximately $2,578,051.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,356 shares of company stock worth $949,987. Insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACAD. RTW Investments LP boosted its position in shares of ACADIA Pharmaceuticals by 18.3% during the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after acquiring an additional 1,793,288 shares during the last quarter. First Trust Advisors LP lifted 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 purchasing an additional 148,526 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in ACADIA Pharmaceuticals by 21.3% during the first quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company’s stock valued at $29,654,000 after purchasing an additional 281,410 shares during the last quarter. Norges Bank purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $45,187,000. Finally, Northern Trust Corp increased its holdings in shares of ACADIA Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after buying an additional 57,555 shares during the last quarter. 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.