ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded to “Buy” at Wall Street Zen

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. decreased their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. UBS Group increased their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. Mizuho upped their price target 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, Citigroup raised their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.16.

ACADIA Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:ACAD opened at $26.78 on Friday. The firm has a fifty day simple moving average of $25.50 and a two-hundred day simple moving average of $23.90. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $28.35. The stock has a market capitalization of $4.53 billion, a P/E ratio of 17.28, a PEG ratio of 7.12 and a beta of 0.68.

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

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director James M. Daly sold 30,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $243,106.78. Following the transaction, the executive vice president owned 53,338 shares in the company, valued at approximately $1,263,577.22. This represents a 16.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 44,346 shares of company stock valued at $1,010,957. 26.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several large investors have recently modified their holdings of ACAD. Geneos Wealth Management Inc. increased its stake in ACADIA Pharmaceuticals by 113.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 756 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at $41,000. GAMMA Investing LLC increased its position in shares of ACADIA Pharmaceuticals by 25.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 690 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in ACADIA Pharmaceuticals in the 3rd quarter worth $93,000. 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.