ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised the target price for ACADIA Pharmaceuticals from $35.00 to $39.00, indicating a potential upside of 61.85% from the stock's previous close.
• The company recently reported quarterly earnings of $0.16 EPS, surpassing estimates and marking a 9.4% increase in revenue compared to the same quarter last year.
• A mix of analysts provides varying ratings on ACADIA Pharmaceuticals, with one rating it as a Strong Buy and the consensus rating being "Moderate Buy".

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) had its price target upped by equities researchers at TD Cowen from $35.00 to $39.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. TD Cowen's target price would indicate a potential upside of 62.77% from the company's current price.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. HC Wainwright reissued a "buy" rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. JMP Securities lifted their price target on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Oppenheimer reissued a "market perform" rating and issued a $22.00 price objective (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, Wall Street Zen cut ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $29.65.

ACADIA Pharmaceuticals Trading Down 2.9%

Shares of NASDAQ ACAD traded down $0.71 during midday trading on Thursday, hitting $23.96. The company's stock had a trading volume of 591,209 shares, compared to its average volume of 2,150,131. The business's 50 day moving average is $24.07 and its two-hundred day moving average is $20.37. ACADIA Pharmaceuticals has a 12-month low of $13.40 and a 12-month high of $26.65. The firm has a market cap of $4.04 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 5.98 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.ACADIA Pharmaceuticals's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 22,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the sale, the executive vice president owned 40,130 shares of the company's stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total value of $41,568.00. Following the transaction, the director owned 25,382 shares of the company's stock, valued at $659,424.36. This represents a 5.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 28.30% of the company's stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in ACADIA Pharmaceuticals by 645.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock worth $5,065,000 after purchasing an additional 268,714 shares during the period. Comerica Bank boosted its position in ACADIA Pharmaceuticals by 4,770.1% during the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company's stock worth $716,000 after purchasing an additional 42,215 shares during the period. GAMMA Investing LLC boosted its position in ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after purchasing an additional 3,030 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth $247,000. Finally, Rhumbline Advisers boosted its position in ACADIA Pharmaceuticals by 100.9% in the 1st quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock valued at $5,859,000 after buying an additional 177,188 shares during the last quarter. 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.