HC Wainwright Increases ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $32.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective hoisted by analysts at HC Wainwright from $27.00 to $32.00 in a research report issued on Monday, Marketbeat reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 47.53% from the company’s current price.

ACAD has been the subject of a number of other reports. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday. UBS Group decreased their price target 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. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $21.69 on Monday. The firm has a 50 day simple moving average of $16.11 and a two-hundred day simple moving average of $17.19. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $25.23. The company has a market cap of $3.63 billion, a P/E ratio of 27.81 and a beta of 0.47.

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

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at approximately $969,957.45. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,994 shares of company stock worth $453,131 over the last quarter. 26.50% of the stock is currently owned by corporate insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ACAD. Assenagon Asset Management S.A. purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at about $60,845,000. Point72 Asset Management L.P. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $40,935,000. SG Americas Securities LLC increased its position in shares of 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 valued at $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. American Century Companies Inc. lifted its holdings in ACADIA Pharmaceuticals by 1,055.8% during the first quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock worth $27,120,000 after acquiring an additional 1,491,484 shares during the period. Finally, Norges Bank purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth $25,555,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.