ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $30.00 at Needham & Company LLC

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective boosted by Needham & Company LLC from $27.00 to $30.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 34.77% from the company’s previous close.

Other analysts have also recently issued reports about the company. StockNews.com cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Friday. Finally, HC Wainwright lifted their price target on shares of ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

ACADIA Pharmaceuticals Trading Up 26.5%

ACAD stock opened at $22.26 on Monday. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $25.23. The stock has a market cap of $3.73 billion, a P/E ratio of 28.54 and a beta of 0.47. The company’s 50 day moving average is $15.91 and its two-hundred day moving average is $17.11.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. During the same quarter in the prior year, the firm earned $0.10 EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Activity

In other ACADIA Pharmaceuticals 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 sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the transaction, the executive vice president now owns 59,456 shares of the company’s stock, valued at $881,137.92. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,994 shares of company stock valued at $313,131. 26.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Barclays PLC grew its holdings in ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after acquiring an additional 154,854 shares during the period. SG Americas Securities LLC lifted its holdings 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 valued at $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. KBC Group NV boosted 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 in the last quarter. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,281 shares of the biopharmaceutical company’s stock worth $647,000 after purchasing an additional 3,378 shares in the last quarter. 96.71% of the stock is currently 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.