JPMorgan Chase & Co. Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $30.00 to $34.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 45.99% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their target price for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Morgan Stanley set a $24.00 target price on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $28.13.

ACADIA Pharmaceuticals Stock Up 0.1%

NASDAQ ACAD traded up $0.02 during trading hours on Thursday, reaching $23.29. The company's stock had a trading volume of 293,187 shares, compared to its average volume of 2,207,131. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 4.86 and a beta of 0.64. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $25.23. The firm's 50-day moving average price is $21.91 and its 200-day moving average price is $18.76.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The business had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business's revenue was up 18.7% compared to the same quarter last year. Equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Laura Brege sold 14,446 shares of the company's stock in a transaction on 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 owned 15,095 shares of the company's stock, valued at $328,769.10. This represents a 48.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the transaction, the executive vice president owned 62,773 shares of the company's stock, valued at $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,271 shares of company stock valued at $525,079. 26.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth approximately $29,000. Banque Transatlantique SA purchased a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at $31,000. Picton Mahoney Asset Management purchased a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at $32,000. Federated Hermes Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $39,000. 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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