Citigroup Raises ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $40.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target raised by investment analysts at Citigroup from $39.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price target would indicate a potential upside of 31.77% from the stock’s previous close.

Several other analysts have also weighed in on the company. Citizens Jmp upped their price objective on ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Stifel Nicolaus boosted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Bank of America reissued a “buy” rating and issued a $14.50 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. UBS Group raised their price objective on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Oppenheimer lifted their price objective on shares of ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.36.

ACADIA Pharmaceuticals Stock Up 2.4%

ACAD traded up $0.71 during trading on Tuesday, reaching $30.36. The stock had a trading volume of 380,816 shares, compared to its average volume of 1,669,122. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 23.23 and a beta of 0.81. ACADIA Pharmaceuticals has a 1-year low of $19.69 and a 1-year high of $30.96. The stock has a 50 day moving average of $26.12 and a two-hundred day moving average of $23.50.

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

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president directly owned 18,994 shares in the company, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction dated 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 directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 36,699 shares of company stock valued at $1,019,894. Company insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of 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 acquiring an additional 386 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ACADIA Pharmaceuticals by 15.6% during the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 402 shares in the last quarter. Cetera Investment Advisers boosted its position in 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 purchasing an additional 436 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in 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 purchasing an additional 501 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in ACADIA Pharmaceuticals by 2.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock valued at $766,000 after purchasing an additional 566 shares in the last quarter. Institutional investors and hedge funds 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.