ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.87 and last traded at $29.62, with a volume of 642289 shares. The stock had previously closed at $29.01.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on ACAD shares. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Citizens Jmp increased their price objective on ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. Morgan Stanley set a $27.00 target price on ACADIA Pharmaceuticals in a research report on Monday, August 10th. Needham & Company LLC increased their price target on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Bank of America reissued a "buy" rating and set a $14.50 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.19.
Read Our Latest Stock Report on ACAD
ACADIA Pharmaceuticals Price Performance
The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 22.24 and a beta of 0.81. The company has a fifty day moving average price of $25.29 and a two-hundred day moving average price of $23.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. During the same period in the previous year, the company earned $0.16 earnings per share. ACADIA Pharmaceuticals's revenue was up 16.4% compared to the same quarter last year. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share for the current fiscal year.
Insider Transactions at ACADIA Pharmaceuticals
In related news, insider James Kihara sold 5,401 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 14,292 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares of the company's stock, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,100 shares of company stock valued at $1,134,287 in the last quarter. Insiders own 26.20% of the company's stock.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
A number of institutional investors and hedge funds have recently modified their holdings of ACAD. Farther Finance Advisors LLC grew its holdings 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 worth $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 1,005 shares during the period. Federated Hermes Inc. increased its stake in ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $52,000. Institutional investors and hedge funds own 96.71% of the company's stock.
About ACADIA Pharmaceuticals
(
Get Free Report)
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.
Further Reading
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