ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reiterated their market perform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD - Free Report) in a research note issued to investors on Monday, Benzinga reports. They currently have a $19.00 price objective on the biopharmaceutical company's stock.

A number of other equities analysts also recently issued reports on ACAD. JMP Securities reiterated a market outperform rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an outperform rating for the company in a report on Wednesday, February 28th. TheStreet upgraded ACADIA Pharmaceuticals from a d rating to a c rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating for the company in a research note on Monday, March 25th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $31.75.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.05 during mid-day trading on Monday, reaching $17.00. The stock had a trading volume of 1,368,158 shares, compared to its average volume of 1,740,126. The firm has a market capitalization of $2.81 billion, a PE ratio of -44.74 and a beta of 0.42. ACADIA Pharmaceuticals has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The stock's 50-day simple moving average is $19.15 and its 200-day simple moving average is $23.33.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly 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 net margin of 8.44% and a negative return on equity of 15.67%. The business had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same period in the previous 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the company's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30. Following the sale, the insider now directly owns 13,100 shares of the company's stock, valued at $234,097. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares in the company, valued at $2,513,626.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the transaction, the insider now owns 13,100 shares of the company's stock, valued at $234,097. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,116 shares of company stock valued at $1,625,639. 27.50% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $2,206,000. Qube Research & Technologies Ltd grew its position in ACADIA Pharmaceuticals by 757.2% during the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company's stock worth $4,437,000 after buying an additional 188,080 shares in the last quarter. RTW Investments LP increased its stake in ACADIA Pharmaceuticals by 18.3% in the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company's stock worth $241,255,000 after acquiring an additional 1,793,288 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company's stock valued at $22,363,000 after acquiring an additional 91,641 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of ACADIA Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company's stock valued at $25,439,000 after acquiring an additional 57,555 shares during the last quarter. Hedge funds and other institutional investors 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.