Wall Street Zen upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.
Other research analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Stifel Nicolaus increased their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Finally, Royal Bank Of Canada boosted their price objective on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.31.
Read Our Latest Report on ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Stock Up 0.6%
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The firm had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter last year, the company earned $0.16 EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that ACADIA Pharmaceuticals will post 0.57 EPS for the current year.
Insider Buying and Selling at ACADIA Pharmaceuticals
In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the transaction, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,100 shares of company stock valued at $1,134,287. 26.20% of the stock is currently owned by corporate insiders.
Institutional Trading of ACADIA Pharmaceuticals
Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth about $569,634,000. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $40,266,000. Millennium Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 2,052.1% in the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after buying an additional 1,414,315 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after buying an additional 1,312,426 shares during the last quarter. Finally, First Trust Advisors LP raised its position in ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after acquiring an additional 1,073,834 shares in the last quarter. 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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