ACADIA Pharmaceuticals (NASDAQ:ACAD) Raised to "Buy" at Deutsche Bank Aktiengesellschaft

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $35.00 price target on the biopharmaceutical company's stock, up from their previous price target of $20.00. Deutsche Bank Aktiengesellschaft's price target would indicate a potential upside of 62.41% from the company's previous close.

Several other equities analysts have also commented on ACAD. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC boosted their price objective on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Robert W. Baird boosted their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Wall Street Zen downgraded ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.83.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $21.55 on Wednesday. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $25.23. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 27.63 and a beta of 0.47. The stock's 50-day simple moving average is $16.29 and its 200-day simple moving average is $17.27.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, research analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 2,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the executive vice president now directly owns 62,130 shares in the company, valued at approximately $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Kihara sold 4,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider now owns 20,395 shares of the company's stock, valued at $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,994 shares of company stock worth $453,131. Corporate insiders own 26.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth $29,000. Picton Mahoney Asset Management acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth $32,000. Banque Transatlantique SA acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth $31,000. Virtus Fund Advisers LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth $39,000. Finally, Federated Hermes Inc. raised its position in shares of ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 1,618 shares during the last quarter. Institutional investors and hedge funds 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.