ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 12-Month High – Here’s What Happened

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $29.87 and last traded at $29.62, with a volume of 642289 shares. The stock had previously closed at $29.01.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC raised their target price on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group lifted their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.19.

ACADIA Pharmaceuticals Stock Performance

The business has a 50 day simple moving average of $25.64 and a two-hundred day simple moving average of $23.41. The firm has a market capitalization of $5.21 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 23.77 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This trade represents a 17.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 42,100 shares of company stock valued at $1,134,287. Insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACAD. Farther Finance Advisors LLC raised its holdings in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 386 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ACADIA Pharmaceuticals by 15.6% in the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 402 shares during the period. Cetera Investment Advisers raised its stake in shares of ACADIA Pharmaceuticals by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock valued at $437,000 after acquiring an additional 436 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of ACADIA Pharmaceuticals by 2.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock valued at $551,000 after acquiring an additional 501 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of ACADIA Pharmaceuticals by 2.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock worth $766,000 after purchasing an additional 566 shares during the period. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.