ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $32.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective boosted by HC Wainwright from $27.00 to $32.00 in a research note published on Monday, MarketBeat Ratings reports. They currently have a buy rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ FY2027 earnings at $2.43 EPS, FY2028 earnings at $2.64 EPS and FY2029 earnings at $2.78 EPS.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 16th. 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. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. StockNews.com lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $26.83.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $21.85 on Monday. The company’s 50-day moving average price is $16.20 and its two-hundred day moving average price is $17.22. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $25.23. The stock has a market capitalization of $3.66 billion, a PE ratio of 28.01 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued 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. The firm had revenue of $244.32 million during the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the executive vice president now owns 62,130 shares of the company’s stock, valued at $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. This represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,994 shares of company stock valued at $453,131. 26.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd 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 in the last quarter. SG Americas Securities LLC lifted its stake in ACADIA Pharmaceuticals by 380.3% during the fourth 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 during the last quarter. KBC Group NV lifted its stake in ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 2,044 shares during the last quarter. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $47,000. Finally, China Universal Asset Management Co. Ltd. increased its stake 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 valued at $647,000 after purchasing an additional 3,378 shares during the last quarter. 96.71% of the stock is currently 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.