Oppenheimer Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target boosted by stock analysts at Oppenheimer from $21.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price objective points to a potential downside of 3.66% from the stock’s current price.

A number of other equities analysts also recently commented on ACAD. Citizens Jmp reiterated a “market outperform” rating and set a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Citigroup raised their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Mizuho upped their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Finally, UBS Group raised their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.30.

ACADIA Pharmaceuticals Stock Up 1.8%

Shares of ACADIA Pharmaceuticals stock traded up $0.42 during trading hours on Friday, reaching $23.88. 683,576 shares of the company’s stock were exchanged, compared to its average volume of 1,267,590. The business has a fifty day moving average of $26.50 and a two-hundred day moving average of $24.45. The company has a market capitalization of $4.04 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 8.51 and a beta of 0.66. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.28. The company had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $276.52 million. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. ACADIA Pharmaceuticals’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, research analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Buying and Selling

In other news, Director James M. Daly sold 30,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the sale, the director owned 4,041 shares of the company’s stock, valued at approximately $90,397.17. This represents a 88.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 4,084 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $96,749.96. Following the completion of the transaction, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. The trade was a 14.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 44,346 shares of company stock valued at $1,010,957. Corporate insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 386 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 756 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 885 shares during the period. USA Financial Formulas purchased a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $41,000. Finally, Leonteq Securities AG acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $52,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

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.