ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns Market Perform Rating from Raymond James

Raymond James reiterated their market perform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report released on Thursday, MarketBeat reports.

Several other equities analysts have also issued reports on ACAD. Citigroup cut their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a buy rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets initiated coverage on ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They issued an outperform rating and a $31.00 target price on the stock. HC Wainwright reiterated a buy rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Cantor Fitzgerald cut their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of Moderate Buy and an average target price of $25.56.

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $14.55 on Thursday. The business has a 50-day moving average price of $15.89 and a 200 day moving average price of $16.36. The company has a market capitalization of $2.41 billion, a P/E ratio of 80.83, a PEG ratio of 0.49 and a beta of 0.38. ACADIA Pharmaceuticals has a 1-year low of $14.31 and a 1-year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 46.4% compared to the same quarter last year. On average, analysts anticipate that ACADIA Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $148,720.24. Following the sale, the chief financial officer now owns 43,735 shares in the company, valued at $668,270.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 9,733 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the transaction, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at $668,270.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 over the last quarter. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fisher Asset Management LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $4,479,000. Perceptive Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $3,162,000. M&G Plc acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $5,622,000. Frazier Life Sciences Management L.P. lifted its position in shares of ACADIA Pharmaceuticals by 15.9% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 730,917 shares of the biopharmaceutical company’s stock valued at $22,885,000 after buying an additional 100,020 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in ACADIA Pharmaceuticals by 246.7% in the 1st quarter. SG Americas Securities LLC now owns 84,956 shares of the biopharmaceutical company’s stock valued at $1,571,000 after acquiring an additional 60,452 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.