Raymond James Reaffirms Market Perform Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Raymond James reiterated their market perform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note issued to investors on Thursday morning, MarketBeat.com reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley downgraded ACADIA Pharmaceuticals from an overweight rating to an equal weight rating and dropped their price objective for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They set an outperform rating and a $31.00 price objective for the company. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a buy rating to a strong-buy rating in a report on Friday, September 13th. Citigroup reduced their target price on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a buy rating for the company in a report on Thursday, August 8th. Finally, UBS Group decreased their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a buy rating for the company in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $25.56.

ACADIA Pharmaceuticals Trading Up 2.5 %

Shares of ACAD opened at $14.92 on Thursday. The firm’s 50 day moving average is $15.82 and its 200-day moving average is $16.32. ACADIA Pharmaceuticals has a 12 month low of $14.31 and a 12 month high of $32.59. The stock has a market capitalization of $2.47 billion, a PE ratio of -1,492.00, a P/E/G ratio of 0.49 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The business had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. During the same period last year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 46.4% on a year-over-year basis. Equities research analysts predict that ACADIA Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Mark C. Schneyer sold 9,733 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the transaction, the chief financial officer now owns 43,735 shares of the company’s stock, valued at $668,270.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 in the last ninety days. 28.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ACAD. Arizona State Retirement System lifted its position in ACADIA Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after purchasing an additional 655 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 778 shares in the last quarter. Swiss National Bank grew its holdings in ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after buying an additional 800 shares in the last quarter. Covestor Ltd lifted its stake in shares of ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares during the last quarter. Finally, Park Place Capital Corp bought a new stake in ACADIA Pharmaceuticals during the 3rd quarter valued at $25,000. 96.71% of the stock is currently owned by institutional investors.

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.