ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded ACADIA Pharmaceuticals from “hold” to “buy,” adding to a consensus “Moderate Buy” rating based on 14 Buy and four Hold recommendations. The average analyst price target is $32.71.
• ACADIA reported quarterly EPS of $0.18, exceeding the $0.07 consensus estimate, while revenue rose 16.4% year over year to $308 million.
• ACAD shares opened at $19.78, near their 52-week low of $19.32 and below their 50-day and 200-day moving averages. Insiders sold roughly $1.02 million of stock over the past 90 days, while institutional investors own 96.71% of shares.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday, Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. TD Cowen reissued a "buy" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 24th. William Blair set a $33.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, September 28th. Citigroup reaffirmed a "buy" rating and set a $33.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a research report on Friday, September 25th. Canaccord Genuity Group increased their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Finally, Stifel Nicolaus raised their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $32.71.

ACADIA Pharmaceuticals Trading Up 1.0%

ACAD stock opened at $19.78 on Friday. The company's 50-day moving average price is $26.39 and its 200 day moving average price is $24.09. ACADIA Pharmaceuticals has a 52 week low of $19.32 and a 52 week high of $30.96. The company has a market cap of $3.41 billion, a P/E ratio of 8.91 and a beta of 0.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.07 by $0.11. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts expect that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the transaction, the executive vice president directly owned 67,828 shares of the company's stock, valued at $1,981,934.16. The trade was a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company's stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,699 shares of company stock worth $1,019,894. Corporate insiders own 26.20% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rice Hall James & Associates LLC acquired a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $15,658,000. State of Wyoming bought a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth about $1,234,000. Bank of America Corp DE lifted its stake in shares of ACADIA Pharmaceuticals by 27.2% in the 1st quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company's stock worth $34,587,000 after acquiring an additional 332,325 shares during the period. Virtus Advisers LLC bought a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $1,123,000. Finally, GSA Capital Partners LLP bought a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $1,783,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA's commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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