UBS Group Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target increased by analysts at UBS Group from $36.00 to $39.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s price target indicates a potential upside of 53.16% from the stock’s previous close.

Several other analysts have also commented on ACAD. Citigroup restated an “outperform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 7th. Oppenheimer restated a “market perform” rating and set a $22.00 price target (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Finally, Robert W. Baird raised their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.06.

ACADIA Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ:ACAD traded up $0.07 during midday trading on Tuesday, reaching $25.46. The company’s stock had a trading volume of 473,763 shares, compared to its average volume of 2,148,939. The firm has a market capitalization of $4.30 billion, a PE ratio of 19.14, a P/E/G ratio of 6.40 and a beta of 0.75. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $26.65. The stock has a fifty day moving average of $23.76 and a 200 day moving average of $20.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 1,600 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the transaction, the director directly owned 25,382 shares of the company’s stock, valued at $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president directly owned 40,130 shares in the company, valued at approximately $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its stake in shares of ACADIA Pharmaceuticals by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock worth $1,964,000 after buying an additional 626 shares in the last quarter. Cim Investment Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 100.7% in the second quarter. Cim Investment Management Inc. now owns 29,573 shares of the biopharmaceutical company’s stock worth $589,000 after buying an additional 14,841 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of ACADIA Pharmaceuticals by 8.2% in the second quarter. Public Sector Pension Investment Board now owns 422,252 shares of the biopharmaceutical company’s stock worth $9,108,000 after buying an additional 31,821 shares in the last quarter. FORA Capital LLC purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter worth about $297,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of ACADIA Pharmaceuticals by 250.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,629 shares of the biopharmaceutical company’s stock worth $337,000 after buying an additional 11,171 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.