ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective boosted by research analysts at BMO Capital Markets from $24.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price indicates a potential upside of 27.36% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC increased their price target on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company. Finally, UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.10.

ACADIA Pharmaceuticals Stock Down 1.2%

Shares of ACAD traded down $0.28 during trading on Monday, reaching $21.99. 560,440 shares of the company traded hands, compared to its average volume of 1,913,657. The stock has a 50-day simple moving average of $15.91 and a 200-day simple moving average of $17.11. The stock has a market cap of $3.68 billion, a PE ratio of 28.19 and a beta of 0.47. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the sale, the executive vice president now owns 56,889 shares of the company’s stock, valued at $969,957.45. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,994 shares of company stock valued at $313,131. 26.50% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in ACADIA Pharmaceuticals in the first quarter valued at $29,000. Banque Transatlantique SA purchased a new position in ACADIA Pharmaceuticals during the first quarter worth approximately $31,000. Picton Mahoney Asset Management acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $32,000. Federated Hermes Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,618 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.