ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $23.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective boosted by Oppenheimer from $21.00 to $23.00 in a report released on Friday,Benzinga reports. The brokerage currently has a market perform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 3rd. UBS Group boosted their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, December 29th. Mizuho lifted their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Citigroup boosted 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.30.

ACADIA Pharmaceuticals Stock Up 0.4%

ACAD stock opened at $23.56 on Friday. The company’s 50-day moving average price is $26.47 and its two-hundred day moving average price is $24.48. The firm has a market cap of $3.99 billion, a P/E ratio of 15.20, a P/E/G ratio of 8.28 and a beta of 0.66. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $28.35.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 10,262 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $243,106.78. Following the completion of the sale, the executive vice president directly owned 53,338 shares in the company, valued at $1,263,577.22. This represents a 16.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $96,749.96. Following the transaction, the insider directly owned 25,058 shares in the company, valued at $593,624.02. The trade was a 14.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position 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 during the period. Geneos Wealth Management Inc. increased its stake in 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 purchasing an additional 756 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in 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 purchasing an additional 885 shares in the last quarter. USA Financial Formulas acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at about $41,000. Finally, Leonteq Securities AG bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $52,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.