Cantor Fitzgerald Reiterates Overweight Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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

A number of other analysts also recently weighed in on the stock. Oppenheimer restated a market perform rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Mizuho lowered shares of ACADIA Pharmaceuticals from a buy rating to a neutral rating and lowered their target price for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. JPMorgan Chase & Co. cut their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a report on Monday, March 25th. JMP Securities reiterated a market outperform rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, TheStreet raised shares of ACADIA Pharmaceuticals from a d rating to a c rating in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $32.13.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD traded down $0.39 during mid-day trading on Tuesday, reaching $16.71. The stock had a trading volume of 1,174,242 shares, compared to its average volume of 1,752,884. The business has a fifty day moving average of $19.78 and a 200 day moving average of $23.51. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -44.63 and a beta of 0.37. ACADIA Pharmaceuticals has a 12 month low of $16.16 and a 12 month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The business had revenue of $231.04 million for the quarter, compared to analysts' expectations of $223.79 million. During the same quarter in the prior year, the business posted ($0.26) EPS. The business's revenue for the quarter was up 69.3% compared to the same quarter last year. On average, research analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares of the company's stock, valued at $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at $2,513,626.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brendan Teehan sold 5,140 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $92,006.00. Following the transaction, the chief operating officer now directly owns 36,340 shares of the company's stock, valued at $650,486. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,383 shares of company stock valued at $1,291,362. 27.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $39,000. China Universal Asset Management Co. Ltd. lifted its holdings in ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company's stock valued at $88,000 after acquiring an additional 2,070 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $100,000. Acadian Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth approximately $184,000. Finally, Legato Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at $206,000. 96.71% of the stock is owned by hedge funds and other 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.