ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives "Market Outperform" Rating from JMP Securities

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report)'s stock had its "market outperform" rating reaffirmed by analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $37.00 price objective on the biopharmaceutical company's stock. JMP Securities' target price indicates a potential upside of 63.97% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Wall Street Zen upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Cantor Fitzgerald upgraded shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and increased their price objective for the stock from $20.00 to $35.00 in a research report on Wednesday, May 21st. BMO Capital Markets raised their target price on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.27.

ACADIA Pharmaceuticals Stock Up 0.3%

Shares of ACAD traded up $0.07 on Thursday, hitting $22.57. 324,023 shares of the stock traded hands, compared to its average volume of 1,950,661. The firm has a market capitalization of $3.78 billion, a P/E ratio of 16.55, a P/E/G ratio of 4.78 and a beta of 0.65. The stock's 50 day moving average is $19.30 and its two-hundred day moving average is $18.17. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $25.23.

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 the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The business's revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. Research analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the transaction, the executive vice president now owns 62,773 shares of the company's stock, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laura Brege sold 14,446 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, the director now owns 15,095 shares in the company, valued at $328,769.10. The trade was a 48.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,007 shares of company stock valued at $580,446. 26.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $272,000. Vanguard Group Inc. boosted its stake in ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after acquiring an additional 104,444 shares during the period. Victory Capital Management Inc. boosted its stake in ACADIA Pharmaceuticals by 66.9% in the fourth quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company's stock valued at $2,975,000 after acquiring an additional 64,995 shares during the period. Principal Financial Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company's stock valued at $2,637,000 after purchasing an additional 14,143 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 55.2% during the fourth quarter. American Century Companies Inc. now owns 141,265 shares of the biopharmaceutical company's stock valued at $2,592,000 after purchasing an additional 50,238 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Company Profile

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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