ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD - Free Report) in a research report released on Wednesday, Benzinga reports. They currently have a $37.00 target price on the biopharmaceutical company's stock.

Several other analysts have also recently issued reports on the stock. StockNews.com raised shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 12th. They issued a buy rating and a $25.00 target price on the stock. HC Wainwright reiterated a buy rating and issued a $33.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Morgan Stanley cut their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday, March 13th. Finally, Oppenheimer reiterated a market perform rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of Moderate Buy and an average price target of $35.82.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded down $0.42 during midday trading on Wednesday, reaching $17.73. 1,147,290 shares of the company's stock were exchanged, compared to its average volume of 1,812,190. ACADIA Pharmaceuticals has a 52-week low of $17.55 and a 52-week high of $33.99. The business's fifty day moving average price is $22.20 and its two-hundred day moving average price is $24.05. The stock has a market capitalization of $2.92 billion, a PE ratio of -46.61 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter last year, the business earned ($0.26) EPS. ACADIA Pharmaceuticals's revenue for the quarter was up 69.3% compared to the same quarter last year. Analysts predict that ACADIA Pharmaceuticals will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Stephen Davis sold 26,574 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the completion of the transaction, the chief executive officer now directly owns 144,267 shares in the company, valued at $2,578,051.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Stephen Davis sold 26,574 shares of the firm's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now directly owns 144,267 shares of the company's stock, valued at $2,578,051.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 5,434 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $97,268.60. Following the sale, the chief financial officer now owns 26,183 shares in the company, valued at $468,675.70. The disclosure for this sale can be found here. Insiders have sold a total of 69,383 shares of company stock valued at $1,291,362 in the last quarter. Company insiders own 27.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 3.5% in the first quarter. Los Angeles Capital Management LLC now owns 67,474 shares of the biopharmaceutical company's stock valued at $1,248,000 after buying an additional 2,295 shares during the period. Fisher Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $4,479,000. Wellington Management Group LLP acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $1,221,000. Perceptive Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $3,162,000. Finally, Eventide Asset Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $25,342,000. Institutional investors and hedge funds own 96.71% of the company's stock.

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.