ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note released on Tuesday morning, Benzinga reports. Cantor Fitzgerald currently has a $37.00 price target on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on ACAD. JPMorgan Chase & Co. dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a research report on Monday, March 25th. HC Wainwright reiterated a buy rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Mizuho lowered shares of ACADIA Pharmaceuticals from a buy rating to a neutral rating and decreased their target price for the company from $39.00 to $25.00 in a research note on Tuesday, March 12th. JMP Securities reaffirmed a market outperform rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Finally, Oppenheimer reissued a market perform rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $32.13.

ACADIA Pharmaceuticals Trading Down 0.2 %

NASDAQ:ACAD opened at $17.05 on Tuesday. The firm has a market capitalization of $2.82 billion, a PE ratio of -44.87 and a beta of 0.42. ACADIA Pharmaceuticals has a 52 week low of $16.16 and a 52 week high of $33.99. The stock has a 50 day moving average of $19.31 and a 200-day moving average of $23.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.26) earnings per share. As a group, analysts predict that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider James Kihara sold 1,790 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30. Following the transaction, the insider now owns 13,100 shares in the company, valued at approximately $234,097. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at $2,513,626.30. The disclosure for this sale can be found here. Insiders sold a total of 89,116 shares of company stock valued at $1,625,639 in the last quarter. Insiders own 27.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Raymond James & Associates grew its position in ACADIA Pharmaceuticals by 18.1% during the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 1,630 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ACADIA Pharmaceuticals by 12.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,405 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 2,548 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,695,000 after acquiring an additional 6,519 shares during the last quarter. Emerald Advisers LLC increased its position in ACADIA Pharmaceuticals by 4.0% in the 3rd quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock valued at $35,033,000 after acquiring an additional 64,100 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of ACADIA Pharmaceuticals by 1.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,303,988 shares of the biopharmaceutical company’s stock worth $27,175,000 after acquiring an additional 12,894 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.