ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report sent to investors on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $37.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the stock. Needham & Company LLC reissued a buy rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. Morgan Stanley decreased their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating for the company in a research note on Wednesday, March 13th. Mizuho downgraded ACADIA Pharmaceuticals from a buy rating to a neutral rating and cut their price objective for the company from $39.00 to $25.00 in a research report on Tuesday, March 12th. TheStreet upgraded ACADIA Pharmaceuticals from a d rating to a c rating in a research report on Tuesday, February 27th. Finally, JMP Securities restated a market outperform rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $32.13.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $16.71 on Tuesday. The company’s fifty day moving average price is $19.78 and its 200-day moving average price is $23.51. ACADIA Pharmaceuticals has a one year low of $16.16 and a one year high of $33.99. The company has a market capitalization of $2.75 billion, a PE ratio of -44.63 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same period last year, the business posted ($0.26) earnings per share. On average, research analysts predict that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at $2,513,626.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the sale, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at approximately $650,486. The disclosure for this sale can be found here. Insiders sold 69,383 shares of company stock valued at $1,291,362 in the last three months. 27.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $2,206,000. Qube Research & Technologies Ltd increased its holdings in ACADIA Pharmaceuticals by 757.2% in the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after buying an additional 188,080 shares in the last quarter. RTW Investments LP raised its position in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after acquiring an additional 1,793,288 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ACADIA Pharmaceuticals by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock worth $22,363,000 after acquiring an additional 91,641 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of ACADIA Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after acquiring an additional 57,555 shares in the last quarter. 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.