ACADIA Pharmaceuticals (NASDAQ:ACAD) Research Coverage Started at StockNews.com

Posted by Defense World Staff on Oct 6th, 2023

Analysts at StockNews.com began coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) in a research note issued on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley reissued an “equal weight” rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 3rd. JMP Securities raised their price objective on ACADIA Pharmaceuticals from $31.00 to $39.00 and gave the stock a “market outperform” rating in a research report on Friday, July 14th. Oppenheimer reaffirmed a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 3rd. Canaccord Genuity Group lowered their price target on ACADIA Pharmaceuticals from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Hold” and an average price target of $31.81.

Check Out Our Latest Research Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ:ACAD opened at $21.96 on Thursday. The company has a market capitalization of $3.60 billion, a PE ratio of -31.83 and a beta of 0.65. ACADIA Pharmaceuticals has a 12-month low of $13.73 and a 12-month high of $33.99. The business’s fifty day simple moving average is $26.32 and its 200-day simple moving average is $24.18.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.13. The company had revenue of $165.20 million for the quarter, compared to analyst estimates of $163.86 million. ACADIA Pharmaceuticals had a negative return on equity of 27.77% and a negative net margin of 20.11%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Research analysts predict that ACADIA Pharmaceuticals will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other news, insider James Kihara sold 2,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $25.88, for a total value of $51,760.00. Following the sale, the insider now directly owns 10,778 shares of the company’s stock, valued at approximately $278,934.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ACADIA Pharmaceuticals news, insider James Kihara sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $25.88, for a total transaction of $51,760.00. Following the completion of the transaction, the insider now owns 10,778 shares in the company, valued at approximately $278,934.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark C. Schneyer sold 10,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,682 shares of the company’s stock, valued at approximately $454,778. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,498 shares of company stock valued at $3,758,210. 27.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of ACADIA Pharmaceuticals by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 553 shares during the period. Amalgamated Bank grew its holdings in ACADIA Pharmaceuticals by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 622 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of ACADIA Pharmaceuticals by 6.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,007 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 623 shares in the last quarter. ProShare Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 3.5% in the second quarter. ProShare Advisors LLC now owns 26,284 shares of the biopharmaceutical company’s stock valued at $630,000 after buying an additional 887 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of ACADIA Pharmaceuticals by 0.5% during the 1st quarter. Rhumbline Advisers now owns 173,799 shares of the biopharmaceutical company’s stock worth $3,271,000 after buying an additional 917 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

About ACADIA Pharmaceuticals

(Get Free Report)

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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.