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

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They currently have a $37.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 117.01% from the stock’s previous close.

A number of other analysts have also recently weighed in on ACAD. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 9th. Royal Bank of Canada reduced their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Robert W. Baird initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.13.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $17.05 on Tuesday. The firm has a 50 day simple moving average of $19.62 and a 200-day simple moving average of $23.47. The stock has a market capitalization of $2.82 billion, a PE ratio of -43.97 and a beta of 0.37. ACADIA Pharmaceuticals has a 12-month low of $16.16 and a 12-month high of $33.99.

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

Insiders Place Their Bets

In other news, CFO Mark C. Schneyer sold 2,716 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 transaction of $48,534.92. Following the transaction, the chief financial officer now owns 28,742 shares in the company, valued at approximately $513,619.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mark C. Schneyer sold 2,716 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 transaction of $48,534.92. Following the transaction, the chief financial officer now owns 28,742 shares in the company, valued at approximately $513,619.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen Davis sold 26,574 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The disclosure for this sale can be found here. Insiders sold a total of 69,383 shares of company stock worth $1,291,362 in the last quarter. 27.50% of the stock is currently owned by corporate insiders.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $2,206,000. Qube Research & Technologies Ltd raised its stake in shares of ACADIA Pharmaceuticals by 757.2% in the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock worth $4,437,000 after acquiring an additional 188,080 shares during the last quarter. RTW Investments LP raised its stake in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after acquiring an additional 1,793,288 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ACADIA Pharmaceuticals by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock worth $22,363,000 after acquiring an additional 91,641 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of ACADIA Pharmaceuticals by 4.9% in the third quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after acquiring an additional 57,555 shares during 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.