ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 target price on the biopharmaceutical company’s stock.

ACAD has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective on the stock. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $24.00.

ACADIA Pharmaceuticals Stock Up 1.8 %

NASDAQ ACAD opened at $19.34 on Thursday. The stock’s 50-day moving average price is $18.37 and its 200-day moving average price is $16.81. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $25.20. The company has a market capitalization of $3.22 billion, a P/E ratio of 24.79 and a beta of 0.37.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ACAD. Virtus Fund Advisers LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $39,000. R Squared Ltd bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $47,000. GF Fund Management CO. LTD. bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $64,000. Quest Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. Finally, KBC Group NV increased its position in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

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.