ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 1-Year High - What's Next?

Key Points

• ACADIA Pharmaceuticals shares hit a new 52-week high of $26.00, closing at $25.80 with significant trading volume.
• Analysts have largely positive sentiments about ACADIA Pharmaceuticals, with a consensus rating of "Moderate Buy" and a price target of $28.88.
• The company reported $0.16 EPS in its recent quarterly earnings, beating expectations and showing a 9.4% revenue increase from the same quarter last year.

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $26.00 and last traded at $25.80, with a volume of 464 shares changing hands. The stock had previously closed at $25.74.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Robert W. Baird boosted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Bank of America upped their price objective on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.88.

ACADIA Pharmaceuticals Trading Down 0.1%

The company has a market cap of $4.34 billion, a PE ratio of 19.39, a P/E/G ratio of 6.55 and a beta of 0.70. The firm has a 50 day moving average of $23.02 and a two-hundred day moving average of $19.72.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. On average, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other news, Director Laura Brege sold 14,446 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the transaction, the director directly owned 15,095 shares in the company, valued at $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares in the company, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after purchasing an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth about $60,845,000. Geode Capital Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.4% in the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company's stock worth $65,238,000 after purchasing an additional 69,584 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 2.0% in the first quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after purchasing an additional 54,899 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of ACADIA Pharmaceuticals by 2.8% in the second quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company's stock worth $52,509,000 after purchasing an additional 65,914 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

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.

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