ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Reaffirmed by Cantor Fitzgerald

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They presently have a $37.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 118.16% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. JMP Securities reissued a “market outperform” rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Royal Bank of Canada reduced their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Finally, Oppenheimer reissued a “market perform” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.13.

ACADIA Pharmaceuticals Trading Down 0.8 %

Shares of NASDAQ ACAD traded down $0.14 during trading hours on Tuesday, reaching $16.96. The stock had a trading volume of 134,443 shares, compared to its average volume of 1,739,989. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -44.66 and a beta of 0.37. ACADIA Pharmaceuticals has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The firm has a 50-day moving average of $19.78 and a 200-day moving average of $23.51.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analysts’ expectations of $223.79 million. During the same period in the prior year, the business earned ($0.26) EPS. The business’s quarterly revenue was up 69.3% compared to the same quarter last year. On average, equities analysts predict that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the completion of the sale, the insider now directly owns 13,100 shares in the company, valued at approximately $234,097. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Stephen Davis sold 26,574 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares in the company, valued at approximately $2,578,051.29. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the transaction, the insider now owns 13,100 shares of the company’s stock, valued at approximately $234,097. The disclosure for this sale can be found here. Insiders have sold a total of 69,383 shares of company stock worth $1,291,362 over the last ninety days. 27.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of ACAD. Quest Partners LLC bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $39,000. China Universal Asset Management Co. Ltd. grew its stake in ACADIA Pharmaceuticals by 97.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 2,070 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $100,000. Acadian Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $184,000. Finally, Legato Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $206,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.