ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD - Free Report) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $30.00 price objective on the biopharmaceutical company's stock.

ACAD has been the subject of a number of other reports. Royal Bank Of Canada upped their price objective on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Robert W. Baird increased their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, May 19th. BMO Capital Markets increased their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a report on Monday, May 19th. HC Wainwright restated a "buy" rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday. Finally, Mizuho increased their target price on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.88.

ACADIA Pharmaceuticals Trading Down 0.4%

Shares of ACAD traded down $0.09 during midday trading on Thursday, reaching $22.12. The stock had a trading volume of 3,000,828 shares, compared to its average volume of 1,962,374. The company's 50-day moving average is $19.60 and its 200 day moving average is $18.23. ACADIA Pharmaceuticals has a 12-month low of $13.40 and a 12-month high of $25.23. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 4.77 and a beta of 0.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The firm had revenue of $244.32 million during the quarter, compared to analysts' expectations of $239.32 million. During the same period in the prior year, the business earned $0.10 EPS. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. Research analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the transaction, the executive vice president now owns 62,773 shares of the company's stock, valued at approximately $916,485.80. This represents a 5.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the transaction, the insider now directly owns 20,395 shares of the company's stock, valued at $458,887.50. This represents a 16.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,007 shares of company stock valued at $580,446. Corporate insiders own 28.30% of the company's stock.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after buying an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $60,845,000. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after buying an additional 54,899 shares during the last quarter. First Trust Advisors LP grew its stake in shares of ACADIA Pharmaceuticals by 27.0% in the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after buying an additional 574,251 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $40,935,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.