ACADIA Pharmaceuticals (NASDAQ:ACAD) Given Overweight Rating at Cantor Fitzgerald

by · The Markets Daily

Cantor Fitzgerald reissued their overweight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Free Report) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $37.00 price objective on the biopharmaceutical company’s stock.

ACAD has been the subject of several other reports. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an outperform rating and a $40.00 price target for the company. Oppenheimer restated a market perform rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. StockNews.com raised ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, January 30th. Royal Bank of Canada cut their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an outperform rating on the stock in a research note on Wednesday, February 28th. Finally, Morgan Stanley cut their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating for the company in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $35.82.

Read Our Latest Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Trading Down 1.6 %

Shares of ACADIA Pharmaceuticals stock opened at $17.14 on Wednesday. The stock’s fifty day moving average price is $21.70 and its 200-day moving average price is $23.92. The firm has a market cap of $2.82 billion, a P/E ratio of -45.10 and a beta of 0.37. ACADIA Pharmaceuticals has a 12 month low of $16.85 and a 12 month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business 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 for the quarter was up 69.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) EPS. Analysts forecast that ACADIA Pharmaceuticals will post 0.63 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 5,140 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $92,006.00. Following the completion of the transaction, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at approximately $650,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30. Following the sale, the insider now owns 13,100 shares of the company’s stock, valued at $234,097. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the completion of the transaction, the chief operating officer now owns 36,340 shares of the company’s stock, valued at approximately $650,486. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,383 shares of company stock valued at $1,291,362. 27.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. KBC Group NV acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $83,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $100,000. Lazard Asset Management LLC boosted its stake in ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 1,088 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 2,070 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

(Get Free Report)

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.

Read More