ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research report report published on Sunday morning.

ACAD has been the topic of a number of other reports. Stifel Nicolaus set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. Piper Sandler set a $37.00 price target on ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. JPMorgan Chase & Co. reduced their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Finally, HC Wainwright increased their price objective on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.16.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $26.46 on Friday. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 7.07 and a beta of 0.68. The company has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $23.97. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The firm had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Activity

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,084 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $96,749.96. Following the completion of the sale, the insider owned 25,058 shares of the company’s stock, valued at $593,624.02. This represents a 14.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 10,262 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $243,106.78. Following the completion of the transaction, the executive vice president directly owned 53,338 shares in the company, valued at approximately $1,263,577.22. This represents a 16.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 44,346 shares of company stock valued at $1,010,957. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. Geneos Wealth Management Inc. raised its holdings in ACADIA Pharmaceuticals by 113.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 756 shares during the period. Smartleaf Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the last quarter. USA Financial Formulas bought a new position in shares of ACADIA Pharmaceuticals in the third quarter worth about $41,000. GAMMA Investing LLC increased its stake in shares of ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 690 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $93,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.