ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 52-Week High – Here’s What Happened

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.76 and last traded at $26.55, with a volume of 1810325 shares changing hands. The stock had previously closed at $25.88.

Wall Street Analysts Forecast Growth

ACAD has been the topic of a number of research reports. UBS Group restated a “buy” rating and set a $35.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Royal Bank Of Canada cut their target price on shares of ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday. Finally, Cowen restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.89.

ACADIA Pharmaceuticals Stock Up 2.6%

The company has a fifty day moving average of $22.48 and a two-hundred day moving average of $22.97. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 6.73 and a beta of 0.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The company had revenue of $278.63 million for the quarter, compared to analysts’ expectations of $276.52 million. During the same period in the previous year, the company posted $0.20 EPS. ACADIA Pharmaceuticals’s revenue was up 11.3% compared to the same quarter last year. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,084 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $96,749.96. Following the transaction, the insider owned 25,058 shares in the company, valued at approximately $593,624.02. The trade was a 14.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James M. Daly sold 30,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $22.37, for a total value of $671,100.00. Following the transaction, the director directly owned 4,041 shares of the company’s stock, valued at approximately $90,397.17. This trade represents a 88.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 47,844 shares of company stock valued at $1,093,684 over the last ninety days. Corporate insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Braidwell LP acquired a new position in ACADIA Pharmaceuticals during the third quarter worth $50,760,000. Marshall Wace LLP boosted its position in shares of ACADIA Pharmaceuticals by 496.2% during the 2nd quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock worth $42,487,000 after purchasing an additional 1,639,315 shares in the last quarter. American Century Companies Inc. grew its stake in shares of ACADIA Pharmaceuticals by 1,055.8% during the 1st quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock worth $27,120,000 after purchasing an additional 1,491,484 shares during the period. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $31,679,000. Finally, Millennium Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2,052.1% in the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after purchasing an additional 1,414,315 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other 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.