ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target hoisted by investment analysts at BMO Capital Markets from $34.00 to $36.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price suggests a potential upside of 44.23% from the company’s previous close.

A number of other brokerages also recently issued reports on ACAD. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Bank of America lifted their target price on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group upped their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. Citigroup increased their price target on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $33.17.

ACADIA Pharmaceuticals Trading Down 1.8%

Shares of NASDAQ:ACAD opened at $24.96 on Tuesday. The stock has a market cap of $4.27 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 18.32 and a beta of 0.80. The stock’s fifty day simple moving average is $23.10 and its two-hundred day simple moving average is $23.25. ACADIA Pharmaceuticals has a 1-year low of $19.69 and a 1-year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. On average, sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.37 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares in the company, valued at $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 10,239 shares of company stock worth $219,813. 26.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of ACADIA Pharmaceuticals by 25.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock worth $17,320,000 after buying an additional 133,393 shares in the last quarter. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $40,266,000. Jupiter Asset Management Ltd. increased its stake in ACADIA Pharmaceuticals by 30.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock worth $16,588,000 after acquiring an additional 144,732 shares during the last quarter. Geode Capital Management LLC increased its stake in ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after acquiring an additional 106,807 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of ACADIA Pharmaceuticals by 15.7% in the 4th quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after acquiring an additional 104,546 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

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.