ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives Market Perform Rating from Oppenheimer

Oppenheimer reissued their market perform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note released on Monday morning, Benzinga reports. They currently have a $19.00 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, January 30th. Mizuho cut 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. JPMorgan Chase & Co. dropped their price target 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 reissued a buy rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of Moderate Buy and a consensus price target of $29.38.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $15.21 on Monday. The company has a market cap of $2.51 billion, a PE ratio of -40.03 and a beta of 0.42. The stock has a 50-day simple moving average of $18.50 and a 200 day simple moving average of $23.16. ACADIA Pharmaceuticals has a 52-week low of $15.17 and a 52-week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million during the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s quarterly revenue was up 73.8% on a year-over-year basis. During the same period last year, the business earned ($0.27) EPS. On average, research analysts predict that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the sale, the chief financial officer now directly owns 32,053 shares in the company, valued at approximately $542,977.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, 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 at the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the sale, the chief financial officer now owns 32,053 shares of the company’s stock, valued at $542,977.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,116 shares of company stock valued at $1,625,639. 27.50% of the stock is currently owned by company insiders.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Empire Life Investments Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 0.3% during the fourth quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after purchasing an additional 467 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after purchasing an additional 700 shares in the last quarter. Swiss National Bank raised its holdings in shares of ACADIA Pharmaceuticals by 0.4% in the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after purchasing an additional 800 shares during the last quarter. Franklin Resources Inc. raised its stake in ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after acquiring an additional 803 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $39,000. 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.