ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Gap Up – What’s Next?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.99, but opened at $24.78. ACADIA Pharmaceuticals shares last traded at $24.4290, with a volume of 156,423 shares changing hands.

Wall Street Analyst Weigh In

ACAD has been the topic of several analyst reports. Stifel Nicolaus set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Citigroup raised their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, January 5th. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, February 6th. Finally, Royal Bank Of Canada reduced their price objective on ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.35.

ACADIA Pharmaceuticals Stock Performance

The company has a market cap of $4.24 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 8.68 and a beta of 0.66. The company has a fifty day moving average of $25.66 and a two-hundred day moving average of $24.44.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, February 25th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $1.47. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The business had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $292.54 million. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the transaction, the executive vice president owned 7,609 shares in the company, valued at $177,898.42. This trade represents a 47.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its stake in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of ACADIA Pharmaceuticals by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock valued at $437,000 after buying an additional 436 shares during the period. J.W. Cole Advisors Inc. raised its position 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 worth $551,000 after acquiring an additional 501 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock worth $352,000 after acquiring an additional 512 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 11.2% in the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 534 shares during the last quarter. 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.