HC Wainwright Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) had its price objective lifted by equities researchers at HC Wainwright from $27.00 to $32.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price target would indicate a potential upside of 43.76% from the company's current price.

ACAD has been the topic of several other reports. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Morgan Stanley restated an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.40.

ACADIA Pharmaceuticals Trading Up 26.5%

NASDAQ:ACAD opened at $22.26 on Monday. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $25.23. The firm's fifty day simple moving average is $15.91 and its 200 day simple moving average is $17.11. The firm has a market capitalization of $3.73 billion, a PE ratio of 28.54 and a beta of 0.47.

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

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the transaction, the executive vice president now directly owns 56,889 shares of the company's stock, valued at approximately $969,957.45. The trade was a 5.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,994 shares of company stock valued at $313,131 in the last ninety days. Insiders own 26.50% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Woodline Partners LP raised its stake in shares of ACADIA Pharmaceuticals by 1,003.0% in the first quarter. Woodline Partners LP now owns 295,210 shares of the biopharmaceutical company's stock worth $4,903,000 after acquiring an additional 268,445 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $186,000. Great Lakes Advisors LLC grew its position in shares of ACADIA Pharmaceuticals by 13.5% during the 1st quarter. Great Lakes Advisors LLC now owns 612,680 shares of the biopharmaceutical company's stock worth $10,177,000 after buying an additional 72,667 shares during the period. Fred Alger Management LLC grew its position in shares of ACADIA Pharmaceuticals by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after buying an additional 54,899 shares during the period. Finally, Scientech Research LLC grew its position in shares of ACADIA Pharmaceuticals by 263.3% during the 1st quarter. Scientech Research LLC now owns 37,785 shares of the biopharmaceutical company's stock worth $628,000 after buying an additional 27,384 shares during the period. 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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