ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $26.00 at Bank of America

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price target hoisted by Bank of America from $23.00 to $26.00 in a report published on Monday, The Fly reports.

Several other brokerages also recently commented on ACAD. JMP Securities increased their price objective on shares of ACADIA Pharmaceuticals from $22.00 to $23.00 and gave the company an outperform rating in a research report on Tuesday, May 9th. Oppenheimer lifted their price objective on shares of ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a market perform rating in a research report on Wednesday, March 1st. Credit Suisse Group boosted their price target on shares of ACADIA Pharmaceuticals from $93.00 to $95.00 in a research report on Friday, April 28th. Canaccord Genuity Group lifted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, March 14th. Finally, Guggenheim lifted their price objective on shares of ACADIA Pharmaceuticals from $22.00 to $25.00 in a research note on Tuesday, March 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $25.43.

ACADIA Pharmaceuticals Stock Down 4.7 %

NASDAQ:ACAD opened at $24.45 on Monday. The company has a fifty day moving average of $20.44 and a 200 day moving average of $18.48. ACADIA Pharmaceuticals has a 52 week low of $12.24 and a 52 week high of $26.04. The firm has a market capitalization of $3.98 billion, a P/E ratio of -26.87 and a beta of 0.54.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The company had revenue of $118.46 million during the quarter, compared to the consensus estimate of $120.29 million. ACADIA Pharmaceuticals had a negative return on equity of 35.70% and a negative net margin of 28.05%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.70) earnings per share. As a group, analysts anticipate that ACADIA Pharmaceuticals will post -0.55 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,947 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $22.50, for a total value of $133,807.50. Following the completion of the sale, the insider now directly owns 11,144 shares of the company’s stock, valued at approximately $250,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider James Kihara sold 5,947 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $22.50, for a total transaction of $133,807.50. Following the completion of the transaction, the insider now directly owns 11,144 shares in the company, valued at approximately $250,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark C. Schneyer sold 1,916 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $18.16, for a total value of $34,794.56. Following the completion of the transaction, the chief financial officer now owns 7,477 shares of the company’s stock, valued at approximately $135,782.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,326 shares of company stock valued at $1,280,295. 28.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. C M Bidwell & Associates Ltd. acquired a new stake in ACADIA Pharmaceuticals in the first quarter valued at $30,000. IFP Advisors Inc grew its holdings in ACADIA Pharmaceuticals by 284.6% in the third quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,500 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 33.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 553 shares during the last quarter. CWM LLC grew its holdings in ACADIA Pharmaceuticals by 7,783.3% in the first quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 169.0% in the first quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.

About ACADIA Pharmaceuticals

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.