ACADIA Pharmaceuticals (NASDAQ:ACAD) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “hold” rating and a $22.00 price target on the biopharmaceutical company’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 16.53% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $24.00.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $18.88 on Tuesday. The company’s fifty day simple moving average is $17.80 and its two-hundred day simple moving average is $16.65. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $26.78. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 24.21 and a beta of 0.37.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the sale, the chief operating officer now owns 62,105 shares of the company’s stock, valued at $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock valued at $414,551 over the last quarter. 28.30% of the stock is owned by corporate insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Vinva Investment Management Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $187,000. Xponance Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $186,000. Intech Investment Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 38.3% during the fourth quarter. Intech Investment Management LLC now owns 52,106 shares of the biopharmaceutical company’s stock valued at $956,000 after purchasing an additional 14,423 shares during the period. Cibc World Markets Corp purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $206,000. Finally, Globeflex Capital L P purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $168,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.