ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Reiterated by Cantor Fitzgerald

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

ACAD has been the subject of several other research reports. HC Wainwright reiterated a buy rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. JPMorgan Chase & Co. decreased their target price 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. Oppenheimer reaffirmed a market perform rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday. JMP Securities reaffirmed a market outperform rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, Morgan Stanley decreased their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an overweight rating on the stock in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $29.38.

ACADIA Pharmaceuticals Stock Down 11.2 %

Shares of ACAD traded down $1.92 during trading hours on Thursday, hitting $15.21. The company had a trading volume of 5,281,024 shares, compared to its average volume of 1,785,875. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -40.03 and a beta of 0.42. The business has a fifty day moving average of $18.66 and a 200-day moving average of $23.21. ACADIA Pharmaceuticals has a 12 month low of $15.17 and a 12 month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. During the same period in the prior year, the firm earned ($0.27) earnings per share. The company's revenue was up 73.8% on a year-over-year basis. On average, equities analysts expect that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $193,573.38. Following the transaction, the chief executive officer now directly owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Stephen Davis sold 11,427 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the transaction, the chief executive officer now owns 155,231 shares of the company's stock, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of the business's stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the sale, the chief financial officer now directly owns 32,053 shares of the company's stock, valued at $542,977.82. The disclosure for this sale can be found here. Insiders sold 89,116 shares of company stock valued at $1,625,639 over the last 90 days. Company insiders own 27.50% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Empire Life Investments Inc. lifted its stake in ACADIA Pharmaceuticals by 0.3% during the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company's stock valued at $5,473,000 after acquiring an additional 467 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of ACADIA Pharmaceuticals by 2.3% during the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company's stock valued at $990,000 after purchasing an additional 700 shares during the last quarter. Swiss National Bank increased its position in shares of ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company's stock valued at $3,894,000 after purchasing an additional 800 shares during the last quarter. Franklin Resources Inc. increased its position in shares of ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company's stock valued at $1,578,000 after purchasing an additional 803 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. 96.71% of the stock is currently 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.