ACADIA Pharmaceuticals (NASDAQ:ACAD) Raised to “Buy” at Wall Street Zen

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other brokerages have also weighed in on ACAD. The Goldman Sachs Group increased their target price on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a “sell” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 14th. Royal Bank Of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $28.94.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $22.57 on Friday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 7.90 and a beta of 0.80. ACADIA Pharmaceuticals has a fifty-two week low of $13.40 and a fifty-two week high of $26.65. The stock has a 50 day moving average of $22.62 and a 200 day moving average of $22.00.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.28. The company had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total value of $41,568.00. Following the completion of the transaction, the director owned 25,382 shares in the company, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the sale, the executive vice president owned 40,130 shares in the company, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,098 shares of company stock valued at $678,256 in the last quarter. Company insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in shares of ACADIA Pharmaceuticals by 113.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares during the last quarter. Banque Transatlantique SA purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at $31,000. Picton Mahoney Asset Management acquired a new stake in ACADIA Pharmaceuticals in the first quarter valued at $32,000. Smartleaf Asset Management LLC lifted its holdings in ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 885 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,618 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.