Ladenburg Thalmann Financial Services reissued their buy rating on shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in a report issued on Monday. Ladenburg Thalmann Financial Services currently has a $50.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $48.00.

A number of other brokerages have also weighed in on ACAD. Needham & Company LLC reiterated a buy rating and set a $49.00 target price on shares of ACADIA Pharmaceuticals in a research note on Sunday, September 17th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, September 1st. Piper Jaffray Companies set a $54.00 target price on shares of ACADIA Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, August 9th. Cowen and Company reiterated an outperform rating and set a $46.00 target price (up from $42.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating and set a $34.00 target price for the company in a research note on Friday, August 11th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $43.37.

Shares of ACADIA Pharmaceuticals (ACAD) opened at 39.14 on Monday. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83. The stock’s market capitalization is $4.79 billion. The firm has a 50-day moving average price of $35.59 and a 200-day moving average price of $31.62.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.17. The business had revenue of $30.50 million during the quarter, compared to analyst estimates of $20.02 million. ACADIA Pharmaceuticals had a negative net margin of 485.14% and a negative return on equity of 62.08%. The company’s quarterly revenue was up 30400.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.63) EPS. On average, analysts predict that ACADIA Pharmaceuticals will post ($2.54) EPS for the current year.

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In other news, EVP Glenn Baity sold 38,097 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $30.00, for a total value of $1,142,910.00. Following the completion of the sale, the executive vice president now directly owns 109,253 shares in the company, valued at approximately $3,277,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 78,926 shares of company stock valued at $2,566,760 over the last 90 days. 22.25% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of ACAD. Envestnet Asset Management Inc. increased its stake in ACADIA Pharmaceuticals by 23.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 617 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth $125,000. Oppenheimer Asset Management Inc. increased its stake in ACADIA Pharmaceuticals by 10.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 468 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in ACADIA Pharmaceuticals by 138.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 2,548 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter worth $202,000. Institutional investors and hedge funds own 97.10% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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