ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Raised to $36.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on ACADIA Pharmaceuticals to $36 from $34 and kept an outperform rating, implying about 43.5% upside from the prior close.
• Other analysts have also turned more positive on the stock, with several lifting targets and maintaining buy/outperform ratings; the broader consensus is a Moderate Buy with an average target of $33.17.
• ACADIA shares were down about 2% to $25.09, while the company recently reported Q1 earnings of $0.02 per share, missing estimates, on revenue of $268.1 million, which still grew 9.7% year over year.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) had its target price raised by equities researchers at BMO Capital Markets from $34.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the biopharmaceutical company's stock. BMO Capital Markets' price objective points to a potential upside of 43.48% from the company's previous close.

A number of other analysts have also weighed in on ACAD. Citigroup raised their target price on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Bank of America upped their price target on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Royal Bank Of Canada increased their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Canaccord Genuity Group raised their price objective on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a "buy" rating in a report on Monday, June 29th. Finally, Weiss Ratings lowered ACADIA Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.17.

ACADIA Pharmaceuticals Trading Down 2.0%

ACAD stock opened at $25.09 on Tuesday. The firm has a 50-day moving average price of $22.98 and a 200-day moving average price of $23.28. ACADIA Pharmaceuticals has a 12 month low of $19.69 and a 12 month high of $28.35. The stock has a market capitalization of $4.30 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 18.44 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly 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 company had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities analysts predict that ACADIA Pharmaceuticals will post 0.37 EPS 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 that occurred on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares of the company's stock, valued at $1,441,299.55. The trade was a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Kihara sold 5,401 shares of the company'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 transaction of $114,393.18. Following the completion of the transaction, the insider owned 24,509 shares of the company's stock, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 10,239 shares of company stock worth $219,813. 26.20% of the stock is owned by corporate insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ACAD. Farther Finance Advisors LLC grew its position 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 valued at $26,000 after buying an additional 386 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC increased its position in ACADIA Pharmaceuticals by 304.5% during 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. raised its holdings in ACADIA Pharmaceuticals by 277.5% during 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 during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.

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