ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research report released on Saturday.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $24.00.

ACADIA Pharmaceuticals Stock Down 0.3 %

Shares of ACADIA Pharmaceuticals stock opened at $17.56 on Friday. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $24.27. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 22.51 and a beta of 0.43. The company’s fifty day moving average is $18.50 and its 200 day moving average is $16.93.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 6,167 shares of company stock valued at $114,583 over the last three months. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ACAD. Point72 Asset Management L.P. bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $40,935,000. SG Americas Securities LLC grew its position in ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares in the last quarter. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $25,555,000. Renaissance Technologies LLC grew its position in ACADIA Pharmaceuticals by 204.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after purchasing an additional 823,333 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in ACADIA Pharmaceuticals by 160.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company’s stock worth $23,180,000 after purchasing an additional 778,900 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

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.