ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) had its price objective upped by equities researchers at BMO Capital Markets from $34.00 to $36.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price points to a potential upside of 43.48% from the stock’s current price.
ACAD has been the topic of a number of other reports. HC Wainwright lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Citigroup raised their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, June 29th. Royal Bank Of Canada raised their price objective on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Finally, Stifel Nicolaus boosted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.
View Our Latest Stock Analysis on ACAD
ACADIA Pharmaceuticals Trading Down 2.0%
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The firm had revenue of $268.10 million for the quarter, compared to analyst estimates of $280.25 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that ACADIA Pharmaceuticals will post 0.37 EPS for the current year.
Insider Transactions at ACADIA Pharmaceuticals
In related news, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares in the company, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Kihara sold 5,401 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total transaction of $114,393.18. Following the transaction, the insider owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. The trade was a 18.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,239 shares of company stock worth $219,813 over the last three months. 26.20% of the stock is owned by insiders.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
Large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $40,266,000. Millennium Management LLC boosted its position in ACADIA Pharmaceuticals by 2,052.1% during the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 1,414,315 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares during the period. First Trust Advisors LP increased its stake in shares of ACADIA Pharmaceuticals by 47.3% in the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after purchasing an additional 1,073,834 shares in the last quarter. Finally, Logos Global Management LP bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $22,704,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.
The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.
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