ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded to “Strong-Buy” at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

A number of other equities analysts also recently commented on the stock. HC Wainwright decreased their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Oppenheimer reaffirmed a “market perform” rating and issued a $19.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. Mizuho decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Morgan Stanley decreased their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. Finally, Robert W. Baird decreased their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.71.

ACADIA Pharmaceuticals Trading Up 3.2 %

NASDAQ:ACAD traded up $0.54 during trading hours on Thursday, hitting $17.65. The stock had a trading volume of 1,784,828 shares, compared to its average volume of 1,732,370. ACADIA Pharmaceuticals has a 1-year low of $14.55 and a 1-year high of $33.99. The business has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $20.60. The company has a market cap of $2.92 billion, a PE ratio of -1,763.24 and a beta of 0.38.

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

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 3,477 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $58,900.38. Following the transaction, the chief operating officer now owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 3,477 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $58,900.38. Following the transaction, the chief operating officer now owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now directly owns 32,053 shares in the company, valued at approximately $542,977.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,708 shares of company stock valued at $348,697. 28.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Wesbanco Bank Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 93.3% during the 2nd quarter. Wesbanco Bank Inc. now owns 51,800 shares of the biopharmaceutical company’s stock valued at $842,000 after buying an additional 25,000 shares during the last quarter. DNB Asset Management AS acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $165,000. DekaBank Deutsche Girozentrale lifted its holdings in ACADIA Pharmaceuticals by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 97,284 shares of the biopharmaceutical company’s stock worth $1,745,000 after purchasing an additional 2,731 shares during the last quarter. Verity Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth approximately $216,000. Finally, Virtu Financial LLC acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth approximately $285,000. 96.71% of the stock is currently 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.